NCHF BULLETIN

6A/6, SIRI FORT INSTITUTIONAL AREA, AUGUST KRANTI MARG,

NEW DELHI - 110 049 PHONE : 2649 0535

Vol. XXXII No. 8 February, 2020

Editorial Board : Board of Directors NCHF Cover Page

A view of Cooperative Housing
Shri S.N. Sharma, MLA Project in the State of West Bengal.
Chairman
CA R.K. Pikale Shri S.N. Sharma, MLA
Adv. M. Ebrahimkutty
Vice-Chairmen CONTENTS
Shri Rajesh Goyal Shri S.T. Somashekar, MLA
Dr. B.B. Goel Shri Vishwas Bajirao Patil 1. From Editor's Desk ......... 2

Shri N.S. Mehara Directors 2. Corporate Social

Responsibility : 360°
Adv. Balvir Singh
Completed
Shri Kuljeet Singh Chahal –Prof. B.B. Goel .............. 3

Dr. G. Vani Mohan, IAS 3. Time Management

Editor :
–Umesh Chand Asawa ... 7
N.S. Mehara Shri Ranjeet Kumar Dass, MLA

Shri Rajesh Goyal 4. Legal Column .................. 9

Technical Support : CA R.K. Pikale 5. Snippets ......................... 11

S.P. Kumar
Chander Prakash Shri Yogesh Sharma
6.    
Dr. Ajay Sharma, IAS  ........................... 17
The facts stated, conclusions Adv. M. Ebrahimkutty
reached and views expressed in 7.     
Dr. Govind Singh
individual contributions are of the    
contributors concerned and are Shri E. Sarangapani
not necessarily endorsed by   ................... 19
NCHF. Shri Gurmeet Singh Mann
Shri Jitendra Prasad
ADVERTISEMENT TARIFF
Subscription :
Shri Mudit Verma
Monthly Yearly
Rs.4000/- Life Membership Shri Narender Singh (Rs.) (Rs.)
Rs.400/- Annual Membership Shri Tapendra Mohan Biswas
4th Cover Page 3000 30000
Rs.20/- Single Copy Shri R. Sudhakar 2nd & 3rd
Shri Lalit Kumar Cover Page 2500 25000

No part of this bulletin should Full Page 2000 20000

Chief Executive
be reproduced without prior N.S. Mehara Half Page & 1500 15000
permission of the Editor. Single Column
 FROM EDITOR’S DESK
UNION BUDGET 2020-21 AND HOUSING
The Union Budget for the year 2020-21 presented before the Parliament by the Finance Minister of India on 1st
February, 2020 has focused on increasing overall economic growth and incorporates various measures, ranging from
infrastructure development to job creation and digital connectivity to climate action. In line with the limited fiscal
resources available to the Government, focus of the Budget is to increase liquidity and enhance consumer demand
through extension of benefits and simplification of personal income tax.
The Budget continues to focus on affordable housing and infrastructure, more specifically, urban infrastructure
and logistics. The Budget has proposed to extend the additional Rs 1.5 lakh tax benefit on interest paid on affordable
housing loans up to March 2021. Besides, it has also proposed to extend by one year the date of approval of
affordable housing projects for availing of tax holiday on profits earned by builders. Another significant move in the
Budget, which could marginally benefit the real estate industry, is the proposal to change the way in which capital
gains on property deals is computed. Currently, while taxing income from capital gains, business profits and other
sources in respect of transactions in real estate, if the consideration value is less than the circle rate by more than
5%, the difference is counted as income both in the hands of the purchaser as well as seller. In order to minimize
hardship in real estate transaction and provide relief to the sector, the limit of 5% has been increased to 10%. The
move would make property transactions less burdensome in areas where market rates are 5-10% below the circle
rates.
Presently, cooperatives are taxed at a rate of 30% with surcharge and cess. The Budget has proposed that
cooperative societies be given an option to be taxed at 22% plus surcharge, even though without any exemptions.
While presenting the Budget, the Finance Minister said cooperative societies played an extremely important role in
the country’s economy by facilitating access to credit, procurement of inputs and marketing of products to their
members. “As a major concession and in order to bring parity between the cooperative societies and corporates, I
propose to provide an option to cooperative societies to be taxed at 22% plus 10% surcharge and 4% cess with no
exemption/deductions,” the Finance Minister said.
However, the Budget has failed to address key issues confronting the real estate sector, which not only stares
at a piling inventory and weak demand, but also fewer avenues to raise capital. Labour-intensive real estate sector,
which had put a lot of hope on additional liquidity infusion, tax reforms and rental housing, were overlooked in the
Budget. It seems to miss on quick-fixes the real estate sector urgently needs and focuses more on a long-term vision.
Apart from affordable housing and personal income tax relief, no major benefits came in for resolving the current
housing mess. For instance, a hike in the Rs. 2 lakh tax rebate on housing loan interest rates under Section 24 of
Income Tax Act and enhancement of Rs. 45 lakh limit in the definition of affordable housing could have kick-started
healthier demand for housing, especially in affordable and mid-segment categories.
The Budget 2020-21 also missed any major announcement for easing liquidity and availability of finance in real
estate, which is a major worry for most developers. However, the assurance given by the Finance Minister that the
Non-Banking Finance Companies and Housing Finance Companies will not face any liquidity crunch will help calm
nerves for the time being. It also did not announce any measures pertaining to implementation of land reforms.
Lowering of income tax rates with removal of exemptions may not lead to any meaningful boost to consumption.
However, removal of exemptions under the new income tax regime, implying no tax benefit on principal and interest
for home loans would be a dampener for the real estate sector.
To sum up, the Union Budget 2020-21, with its focus on infrastructure, integration of digital technology, augmentation
of rural income, future-ready skill development and job creation aims to improve ease of living for the masses. Notable
developments in infrastructure, rural logistics, education and healthcare sectors will create opportunities in real estate
space. Major announcements for the housing sector were expected, and barring the extension on both the tax holidays
and the time period for availing interest deductions in affordable housing, the highlights on Indian realty was relatively
silent. The Budget could have created a formal structure around rental housing and encouraged home buying by
increasing tax exemption for housing loan repayments. However, Government’s decision to extend additional Rs.1.5
lakh deduction for interest paid on affordable housing loan to March 2021 is good for the housing sector. The move
to provide more money in the hands of the tax payers and elimination of the dividend distribution tax are also welcome
steps but rationalization of direct tax structures over the period has not provided the necessary stimulus needed to
boost the real estate.

2 NCHF BULLETIN
 CORPORATE SOCIAL RESPONSIBILITY:
360º COMPLETED
The national think tank, of late, has been brain
storming on Dev elopment Agenda aiming at 8%
aspirational growth in tune with UN Sustainable Goals by
accelerating momentum for unfinished structural reforms
in the country. Public Sector which plays a pivotal role in
commanding heights of economy has been suggested to
initiate measures for consolidation, mergers and
acquisitions of CPSEs leading to economies of scale, global
competitiveness and access to cheaper international
funding. In this context, 2018 CPSEs Conclave focussing
on four core themes (Corporate governance in the new
age, reinventing human resource management, financial
re-engineering, and Innovation, R&D & Technology for the
future) had projected Vision “New India 2022”.
Prime Minister in his address viewed PSEs as profit
and social benefit generating enterprises for welfare of
stakeholders and civil society. Ruling out separate mantras
for success of private and public sector, CPSEs were
exhorted to help in making New India Jewel on strength
of Incentives, Imagination and Institutional building. He
also suggested 5Ps to improve operational and financial
performance; transparency and accountability in processes;
benchmarking in Personnel; Procurement through GeM
and MSMEs; & Preparation for technological disruptions.
A 100 days deadline was finalised with measurable targets
on five major challenges, namely maximising geo-strategic
reach, minimising import bill, integrating innovations and
research, new development models that can be provided,
and optimally utilisation of Corporate Social Responsibility
(CSR) funds on one specific theme like development of
115 Aspirational Districts each year on analogy of toilet
construction in the country.
CSR SIGNIFICANCE IN HISTORICAL PERSPECTIVE
At the outset, rationale of CSR legislation for social,
economic and human development cannot be interpreted
as a source of financing resource gap by levying additional
taxes/cesses for inclusive growth. The real purpose is to
ensure participation and involvement of corporate in
discharging multiple responsibilities with their innovative
ideas and management skills in delivery of public goods.
It requires ring fencing CSR resources judiciously lest these
are f rittered away by thinly spreading them f or
unsustainable programs. Larger interest of CSR, therefore,
* Prof. of Public Admn. (Retd.) Punjab University, Panchkula
(Haryana)
FEBRUARY, 2020
––Prof. B.B. Goel*
lies in such ev ents that promot e well being of
underprivileged.
CSR is not a new concept. MCA conceived CSR
Voluntary Guidelines in 2009. These were refined as
National Voluntary Guidelines on social, environmental and
economic responsibiliti es in 2011. Out of nine
fundamentals, Sr. No.8 focussed on national development
priorities and strategic CSR based on shared value
concept. Subsequently, DPEs’ Guidelines (2012) envisaged
that since corporate responsibility is integral to CSR,
business be conducted responsibly in a transparent and
ethical manner. Finally, CSR policy rules were enforced
from April 1, 2014 under Companies Act 2013.
Soon thereafter, Anil Baijal 1st High Level Committee
(2015) taking stock of CSR mandate made far reaching
recommendations which were suggested for adoption by
Company Law Committee (2016). Simultaneously, 2nd HLC
(2018) Chaired by Shri Injeti Srinivas, Secretary, MCA,
came out with its report on 13th August 2019 suggesting
CSR roadmap. But Parliament in a great hurry brought
stringent measures for CSR compliance by enacting
Companies (Amendment) Act 2019 on 31st July 2019 (two
weeks earlier of report submission).
CSR MANDATE
According to latest Act/Rules, only those entities
having net worth of Rs.500 crores or turnover of Rs.1000
crores or net profit of Rs.5 crore are required to invest 2%
of its average net profit for the immediately preceding
three years on CSR activities specified in Schedule VII.
These activities are also restricted to over and above
company’s normal course of business. CSR policy and
decision making authority is vested with Board and CSR
Committee. Corporate are thus expected to adopt arms’
length approach in taking up such activities which sub
serve their own ends.
Sub-section 5 of Section 135 provides jurisdiction to
pursue CSR activities —”provided that company shall give
preference to the local area(s) around it where it operates,
for spending the amount earmarked for CSR activities”.
For utilisation of funds, CSR policy extends leniency on
unspent funds on ‘comply or explain’ principle as these
do not lapse for another two years. It implies that if an
entity fails to spend funds, Board in its annual report by
3
specifying reasons for not spending, can easily adopt
escape route.
As already mentioned, CSR scheme after its official
launch in 2014 had many teething problems and successive
High Level Committees were constituted to overcome
intrinsic and extrinsic difficulties. It would therefore, be
very pertinent to briefly introspect recommendations of
Anil Baijal and Injeti Srinivas Committee along with changes
brought in Companies Act to proceed ahead.
ANIL BAIJAL COMMITTEE (2015)
The Committee having examined compliance,
monitoring and evaluation of CSR opined that since 2014-
15 was the first year to comply with CSR provisions, there
is no harm to observe leniency for next two/three years.
It favoured greater autonomy and flexibility on the part of
Company’s Board for a self-regulatory regime. It specifically
recommended:
– Segregation of companies into two categories due to
small CSR budget for execution;
– Accountability of Board for fund utilisation within
existing penalty provisions;
– Omnibus Clause in Schedule VII to objects of social
good;
– Unif ormity in income tax treatment of CSR
expenditure;
– Increased administrative expenses cap from 5% to
10%;
– Other profit making entities set up under specific
statutes to fall under CSR domain; and
– Re-visiting CSR framework after three years
INJETI SRINIVAS COMMITTEE (2019)
This Committee was required to develop a robust
and coherent CSR framework for future growth. It clarified
that CSR should promote responsible and sustainable
business philosophy at broad level. Some of its 25
recommendations are:
– Mandate CSR provisions across all business entities
like LLPs & Banks.
– Exempt companies to form CSR Committee having
CSR expenditure less than Rs.50 lacs to avoid undue
burden.
– Trigger CSR obligations only after three years for
newly created companies for Ease of Doing Business.
– Financial audit for CSR expenditure to improve
transparency.
4 NCHF BULLETIN
– Mere disbursal of funds to Implementing Agencies is
not a CSR spend.
– Register Implementing Agencies with MCA after
Boards have ascertained their credibility.
– Boards can associate experts on CSR Committee
and their appointment criteria to be prescribed by
Government.
– Uniform tax benefits for CSR expenditure.
– CSR Exchange Portal for leveraging technological
benefits of CSR outcomes.
– 3rd party assessment of CSR projects by identifying
5% companies on random basis.
– CSR impact studies once in five years for companies
spending an average of Rs.5 crore in three years.
– Hybrid vehicle for bringing private sector and civil
society to harness their strengths for achieving social
outcomes.
– Strengthening CSR reporting with more disclosures
in respect of projects, locations and implementing
agencies.
– Discouraging contribution to funds specified in
Schedule VII.
– MCA to partner with DPE for formulating CSR
guidelines for CPSEs.
– Ownership of capital assets created through CSR
spends to rest with public while companies to make
them self -sustaining in tune with 17 th SDG
“Partnership for Goals”.
– Broadening scope of Schedule VII as per UN SDGs
enumerated in 2030 Agenda for Social Development.
– Need based CSR spending by looking into local area
preferences with national priorities. Besides, CSR
f unds need not be earm arked f or speci f ic
beneficiaries.
– Enhanced administrative overheads (5% to 10%) for
companies undertaking Impact Assessment studies.
– Annual CSR survey on analogy of Economic Survey
for improved decision-making.
– CSR being a tool for social inclusion, non-compliance
of provisions is treated as civil and not a criminal
offence. However, quantum of penalty be enhanced
twice/thrice of default amount with Rs. one crore cap.
COMPANIES (AMENDMENT) ACT, 2019
The Government brought drastic overhaul in CSR
policy by amending Section 135 of the Act on 31st July,
2019. While under revised Sub-section 5, companies are
obliged to transfer unspent CSR funds to one of the Funds
prescribed under Schedule VII within six months of the
expiry of the final year, newly inserted Sub-section 6 enjoins
that any amount remaining unspent under Sub-section 5,
pursuant to any on-going project, shall be transferred within
30 days from the date of financial year to a special account
to be opened in a Scheduled Bank to be called as Unspent
CSR Account. Such an amount shall be spent within three
years from the date of such transfer, failing which company
shall transfer the same to a Fund specified in Schedule
VII within 30 day from the date of completion of third
financial year.
A new Sub-section (7) further stipulates that a
company shall be punishable with fine (not less than
Rs.50,000 to Rs.25 lakh) for non-compliance of CSR
expenditure within the time limit. Besides, every officer of
the company who is in default shall be punishable with
imprisonment for a term extendable up to 3 years or with
fine which shall not be less than Rs.50,000 but may extend
to Rs.5 lakh or with both.
IMPLEMENTATION STRATEGY
CSR implementation strategy requires resolving
following deadlocks:
(A) Piecemeal Widening Scope of Schedule VII: During
the last five years, scope of Schedule VII has been
expanding horizontally. Very recently, Government has
allowed CSR funds spending on incubators funded
by Central/State or any agency/or PSU and making
contributions to public funded universities, IITs,
national laboratories and autonomous bodies.
Similarly, selection of 115 Aspirational Districts as a
national theme under CSR framework has been
suggested under New India 2022 Vision Document.
There is unanimity in reports of two High Level
Committees that CSR mandate must not be widened
without any rationale, justification and pre-planning.
Such an ad-hoc approach is neither in tune with spirit
of the Scheme nor has brought credibility envisaged
under the Act. In fact, there is a dire need for
incorporating an Omnibus Clause in Schedule VII
instead of making frequent piece-meal changes so
that CSR mandate amply takes care of anticipated
developments, priorities, needs and concerns taking
place in the countryside. Once CSR scope is
enlarged, corporate entities based on its preferences
and chosen sectors can liberally take up combination
of numerous activities having direct/indirect impact
on lives of inhabitants namely, rehabilitation of
abandoned women and children; dowry less mass
marriages; welfare of armed forces veterans; homes
for homeless; renovation/construction of cremation
FEBRUARY, 2020
grounds; infrastructural development of schools/
colleges; distance education for all sections of society;
adoption of model villages for balanced regional
development; preservation of ethnicity of indigenous
communities; learn/earn scheme for plumbers,
mechanics, carpenters, electricians, web designers
etc; local logistics connecting farmers to formal retail
sector; etc. The list is only illustrative with scope for
addition/substraction.
(B) Jurisdictional blockade: Although CPSEs are
expected to preferably undertake its activities in local
areas, definition of “local area” finds no mention in
the Act and the Rules. Management of CPSEs
appearing before Committee on Public Undertakings
(8th Report 2015-16, 16thLok Sabha) reported that
while it was quite difficult for Service and Tertiary
Sector enterprises to have defined geographical area
for commercial operations and could take up CSR
activities at any given location, CONCOR had set
local limit within a radius of 200 KMs. This issue
therefore needs to be thrashed out by amending
Rules to earmark specified portion of CSR funds for
different locations/themes. For instance, 50% funds
can be criteria for uniform pattern of spending in
closed vicinity of an enterprise to cater to local
demands with explicit explanation of the term ‘local
area’ in KMs. The balance 50% can be spent on an
annual theme to ensure Pan India impact.
(C) Compliance on spending: CSR scheme has already
attained maturity during the last about six years and
therefore, terms like leniency and learning on the
part of corporate entities must not be held a valid
ground for compliance. The general tendency for not
spending allocated funds needs harsher treatment
by adhering to regulatory mechanism to serve twin
objective of monitoring progress in spending and
ensuring sustainability of CSR activities. Statutory Geo
tagging of CSR projects is one of the easiest
alternatives to keep a track on flimsy project
identification and implementation thereof. The
Committee on Public Undertakings highlighted glaring
instances where percentage of actual expenditure
out of CSR was too less or CPSEs had been
undertaking activities which in no way fall within its
purview. Hence, unethical practice of not spending
funds has to be dealt with firmly.
In this context, the latest amendment in specific
provisions of CSR has irked corporate sector. Fearing
that criminal penalty for non-compliance of CSR
earmarked funds may turn out to be a harassment
tool, the industry specifically called for roll back
thereof. As a result, Government had no alternative,
but to succumb down to immense pressure and
5
 announced (on 23rd August 2019) that the amended
provisions shall be kept in abeyance. It has withheld
notifying the date from which amendment will be in
force. Thus, CSR violations shall continue to remain
civil liability under status quo arrangement.
(D) Sustaining assets: Ever since CSR launch, there
has been quantitative jump in increased allocations
coupled with professionalism and expertise in its
implementation. KPMG survey (June 2019) confirms
that Reliance Industries tops in CSR spend followed
by Public sector giants like NTPC and ONGC. In
specific context of CPSEs, CSR expenditure
according to latest Public Enterprises Survey was
Rs.2450.31 crores, Rs.4028.04 crores and Rs.3336.5
crores during 2014-15 to 2016-17 respectively.
Recently, State Minister for Finance projecting a rosy
CSR picture reported that companies have spent
about Rs.50,000 crore in the last five years
(29.10.19). W hi le CPSEs alone share CSR
expenditure close to 30% Pan India, Maharashtra
tops with highest expenditure (26.6%)-having the
largest share of companies registered followed by
Delhi and West Bengal.
Conversely, another study provides a dismal picture
of CSR mandate. As many as 10674 (56%) out of
19184 companies did not provide for CSR funds.
Only, Maharashtra, Tamil Nadu, Karnataka and
Gujarat constituted 54% of CSR pool. Women
empowerment received scant attention. Even Union
Finance Minister (Economic Times 30.10.2019) asked
industry to expand their CSR outreach to poor States
such as Jharkhand, Chhattisgarh, Bihar and eight
States of North East Region.
(E) Implement Recommendations Holistically: The two
High Level Committees after examining efficacy of
CSR have already suggested need based, relevant
and very useful recommendations over and above
the swift changes brought in Companies Act. It is
strongly felt that instead of bringing piece-meal
changes; it is high time that the Act is suitably
amended comprehensively in an integrated manner
either by an Ordinance route or in the ensuing
Parliament session with the rider that there would
not be any necessity to look back to the amended
provisions at least for the next five to seven years
and finally setting at rest dilemma of grace period to
the corporate entities to comply with the mandate in
letter and spirit.
APPRAISAL
Increased CSR allocations if utilised in right
perspective, provide vast opportunities in creation of visible,
6 NCHF BULLETIN
durable and sustainable assets having a lasting impact on
lives of teeming millions of Poor. This pace can further be
accelerated if corporate incentivise its functionaries by
instituting annual awards for excelling in CSR performance.
Besides, CSR activities are undertaken with participation
of local leadership and the beneficiaries to give feeling of
ownership, mitigating maintenance issues of assets so
created on the spot and ensuring constant social audit to
minimise eventualities of pilferages/embezzlements. There
would also be no harm if select entities pool CSR resources
in such a fashion that while monitoring mechanism remains
separate with the respective enterprise, the end results
with measurable outcomes have lasting impact on the
ground.
In the whole CSR exercise, due care be taken that
there is no undue interference or direction by the
Government in selection of CSR activities, the venue or
fixation of targets as also pin pointed by Committee on
Public Undertakings in case of construction of school
toilets. The decision on such vital issues be left on wisdom
of management of corporate who should have full
autonomy and exercise due transparency in implementation
strategy lest mandatory CSR spend is construed as another
form of generating additional tax or the opposite parties
instead of viewing CSR as “joy of Giving” target it as
Political Social Responsibility. More so, CSR must not be
viewed as an exercise on part of the Government to shift
its responsibility to private sector thereby heralding another
era of CSR Inspector Raj. Once these ifs and buts are
guarded, CSR shall definitely bring smile to the people by
integrating social, environmental and human development
concerns in entire value chain of corporate business.
To conclude, time tested CSR journey has already
evolved in a big way; travelled much beyond money; and
needs to run like a business. Distinct from terms like charity,
sponsorship or philanthropy, profit making concerns
endeavour to dedicate a portion of their profit to the
common social good to give back to the society for
improving the quality of life. However, slowly and steadily,
CSR mandate has taken a complete U-turn. Presently,
India is probably the only country world over envisaging
an unparallel CSR statutory obligation. Thus, the mandate
starting its journey as voluntary on ‘comply or explain’
principle has completed a full circle at 360º. It is no more
a buzz word, but a strategy governing stakeholders
including regulators and civil society.
"Earth provides enough to satisfy
every man's needs, but not even one
man's greed."
–Mahatma Gandhi
 TIME MANAGEMENT
Time is a valuable resource and your attitude to it
and the way you use it means the difference between
success and failure, fitness and poor health, peace of
mind and anx iety or depression. W hat is t ime
management? There are two sides of better time
management: things we wish to do and things we wish to
avoid doing.
Some people use time just like any other resource.
The best time managers are those that have developed a
sense of different kind of time. The way you manage your
time reflects your attitude to life in general. Accepting that
you are in charge of your life and taking responsibility for
the way you use your time is the first step to a constructive
attitude. One thing is sure – when you begin to manage
your time better, you will soon notice major improvements
in other aspects of your life.
GETTING YOUR PRIORITIES RIGHT
Few people set out on a journey without knowing
where they are heading. They drift aimlessly at home, at
work or at doing business not achieving anything. We
spend our life dealing with crises and problems, respond
to the pressure that others put on us, do things out of
habit and do make realistic decisions to use time to achieve
our goals. Establishing how much time you should be
devoting to different areas-planning ahead will help you to
avoid the pitfalls of crisis time management. Also, if you
try to meet all the demands, not only will you suffer from
immense stress but also lose sight of your goals in life.
Seemingly, habits are routine patterns of behaviour which
need to be checked if they are not helpful. Once you are
sure of your goals decisions become easy.
Drawing your life-graph can be a powerful and
revealing experience. Most of the people will begin to know
whether they are ready to take risk or just opt for
convenience and comfort. In order to change your life
patterns, it will be useful to take a look at what is getting
highlighted on your life-graph. It should tell you a lot about
your priorities and the way you are allocating or utilising
your time at the moment.
It is vital to check if your goals are realistic and if it
is achievable because the last thing you want to do is to
set yourself up to fail. Look hard at your set of goals and
set the priority. Cut out your task and to manage your time
FEBRUARY, 2020
––Umesh Chand Asawa
effectively in the medium to long-term, it will be useful to
allocate your time effectively for each stage or level. You
should set a deadline for achieving each activity. Budget
the time in a way that would take you closer to your destiny.
A time management grid is a very useful way of
analysing the demands on your time. Whether they are
demands which other people are making on you or demand
you are making on yourself, they can be evaluated in
terms of their importance and their urgency and how long
you spend on each time. To stay in control, you have to
be ready to cope up with the unexpected when putting you
‘to do’ list in action. It is important to try to prevent disaster
from happening and to have some contingency plans ready
if they do occur. Schedules and charts are tools that will
help you to plan how much time to spend at different
stages of project. These tools will help you rework specific
tasks and schedules you have prepared.
DEALING WITH OVERLOAD
If you have explored a number of time management
techniques, you will probably know how overloaded you
are with tasks. Before you decide what to do about the
overload, first clear your feelings, do not resent having too
much to do or are you willing to put up with this for the
sake of your career? One course of action is to negotiate
your overload. Your second option is to say ‘No’ to any
additional piece of work. The third option is simply to
change how you feel about the amount of work you have
to do. The important point is to remember that it is not
your fault that there is too much work to do. It has
happened due to multiple reasons.
DELEGATION
Other than in sports, you can delegate task or a duty
that is actually part of your own job. You should delegate
tasks that are straightforward, routine or repetitive. Don’t
delegate ones that are too complex, too important or too
confidential. Choose the people on the basis of their skills
or their potential or because they would find the task
challenging or enjoyable.
TIME MANAGEMENT TECHNIQUES
You must face up to the fact that you have been
wasting time in the past and once you admit your
7
procrastination, you can start to do something about your
problem. You should start looking at the benefits of doing
the work-not just the things you hate. Certainly you will
complete the tasks that you found challenging or
unpleasant. Accept that a job in not going to go away if
you procrastinate. It will only get worse if you put it off
indefinitely. Make up your mind to face it.
TECHNIQUES FOR OVERCOMING PROCRASTINATION
Plan to make Time your partner, not your opponent.
Take the difficult work first. Break the big task down into
small tasks. The important thing is to make a start. Start
anywhere if you find it difficult to start. Commit yourself to
a mentor to tell what you are going to do. Make yourself
accountable to that person. Set your priorities based on
the chart designed by you. Set your own deadline and
reward yourself at each stage throughout the job and when
it is finished. Avoid what distracts you especially socialising
online or playing games or chatting or watching videos or
films. Finally don’t allow yourself to stop until you have
worked for at least one hour.
PLANNING YOUR TIME
Remember all good superheroes require practice,
learning and time to reach the peak. When you engage in
competitive business or work, using time properly becomes
crucial. Between practice, team meetings, job assignments
etc., you have got a lot on your plate. Don’t let others
decide your destiny. How you see yourself determines
your worth, future and success.
Setting goals provides us the foundation to build our
career. When we expose ourselves to our environment
and our experiences, we shape our perceptions and our
thought process. Besides being aware of our weaknesses,
maximising our strengths and knowledge skills will take
us higher level of leadership.
(Courtesy: Hamara Prayas-Special Issue 2019)

E-mail : housefedho@gmail.com Office : 0484-2402913

Fax : 0484-2402937 President : 0484-2401084
M.D. : 0484-2402734
Dy. G.M. : 0484-2402335

KERALA STATE COOPERATIVE HOUSING

FEDERATION LTD., NO. 4330
P.B. NO. 1896, KALOOR,
ERNAKULAM, KOCHI – 682017

The Central Financing Institution

of Housing Cooperatives in the State
Providing Long Term Loans upto Rs.15 Lakhs

For Further Details, Contact Primary Housing Co-op. Societies

ADV. M. EBRAHIMKUTTY AHAMMED, E.M.

President Managing Director

8 NCHF BULLETIN
 LEGAL COLUMN*
IN THE SUPREME COURT OF INDIA
(BEFORE THE HON’BLE MR. JUSTICE DEEPAK GUPTA,
HON’BLE MR. JUSTICE ANIRUDDHA BOSE)
H.P. Puttaswamy
Vs.
Thimmamma and Others
(CIVIL APPEAL NO. 3975 OF 2010)
DECIDED ON 24TH JANUARY, 2020
GENERAL
The underlying legal aspect in this appeal is edificed
on the pith and tenor of Section 32 of the Registration Act,
1908. It concerns with the question of necessity of presence
of a purchaser of immovable property before the authority
at the time of effecting registration of a deed of conveyance.
The Supreme Court has observed that the statute does
not require presence of both parties to a deed of sale
when the same is presented for registration. However, it
may be noted that Rules framed by States may provide
for such presence of both seller and buyer, and in that
case, presence of parties may be required.
FACTS
Before examining the contentious in this appeal, a
sylloge of the unexpandable facts need to be stated. The
plaintiff claimed declaration of himself as the lawful owner
in possession of the suit property. The plaintiff also claimed
permanent injunction against the defendants restraining
them from interfering with his peaceful possession of the
suit property and enjoyment thereof. The property in
question comprises of approximately 4500 square ft. of
land. The plaintiff’s case before the Trial Court was that
this property was allotted to one Gende Veeregowdana
Nathegowda under a village shifting scheme. In the suit,
the plaintiff contended that he had come in possession of
the subject property initially as a tenant and subsequently
as the purchaser thereof. He has run a case before the
Trial Court that he has been in possession of the suit
property for about twenty years prior to filing of the suit.
Respondent Nos. 7 to 9 in this appeal derived their
interest in the property through one Madegowda (since
deceased), son of the origi nal allott ee Gende
* Compiled by : R. Muralidharan, Puducherry Civil Service Officer
(Retd.), Director, Catalyst (The Training People), Puducherry.
FEBRUARY, 2020
.....Appellant
.....Respondents
Veeregowdana Nathegowda. The Respondent Nos. 1 to 6
are legal representatives of one Manchegowda (since
deceased), who contested the claim of ownership of the
plaintiff over the subject property. There have been
litigations in the past over the same property among the
same set of parties or their predecessors. Madegowda
had instituted a suit for declaration and permanent
injunction against Manchegowda. Complaint of Madegowda
in that suit was disturbance of his possession. After contest
at different levels of the judicial hierarchy, that suit was
ultimately dismissed.
In the present proceeding, basis of the plaintiffs claim
was an agreement for sale executed between the plaintiff
and Madegowda in respect of the same property, which
was followed by execution of a deed of sale. The subject
suit was contested by the two sets of defendants, being
legal representatives of said Madegowda and the legal
representatives of Manchegowda. First set of defendants
disputed genuineness of the sale deed which formed
foundation of the plaintiff’s claim. Plea was taken by the
second set of defendants that the original owner had
executed a deed of sale in favour of Manchegowda. These
sets of defendants have also disputed title of Madegowda
over the suit property.
Findings of the Civil Court
The Trial Court sustained the plaintiff’s case primarily
on the ground that the sale deed through which legal
representatives of Manchegowda staked their claim over
the property was not genuine. The Trial Court found that
the original defendant No.2 i.e. Manchegowda, as a
purchaser was not present at the time of execution of the
sale deed before the Sub-Registrar and on that count the
aforesaid finding was rendered.
The claim of cancellation of the allotment of the suit
9
property in favour of Madegowdas predecessor and
subsequent allotment in favour of Manchegowda was not
believed by Trial Court and the First Appellate Court. The
second set of defendants were unsuccessful before the
First Appellate Court.
High Court upturned
In the appeal filed by the legal representatives of
Manchegowda under Section 100 of the Code of Civil
Procedure, 1908, the High Court of Karnataka found the
sale deed to be valid relying on Sections 32, 34 and 36
of the Registration Act, 1908 read with Rule 41 and 71,
Karnataka Registration Rule 1965. The High Court
observed and held that it is clear that the presence of the
purchaser is not required when the document is presented
for registration before the Sub-Registrar. The Trial Court
has failed to take note of the aforesaid provision of law of
the Registration Act and has erred in holding that merely
because the defendant was not present the sale deed in
his favour cannot be taken as valid in law.
Once the sale deed in favour of the defendant is held
to be valid in law and the said sale deed being executed
earlier in point of time by the vendor Manchegowda, the
question of the said vendor Manchegowda retaining any
interest in the suit property will not arise and, as such, he
could not have once again sold the very same property on a
later date in favour of the plaintiff. Therefore, the substantial
question of law raised was answered in negative.
The judgment of the High Court was taken on appeal
before the Supreme Court.
ISSUE
The sole question raised in this appeal is about the
justness and tenability of the approach of the High Court
in reversing the findings of the Civil Courts and the
conclusion reached by the High Court that the presence
of the purchaser is not required when the document is
presented for registration before the Sub-Registrar.
Approach and Analysis
Section 32 of the Registration Act, 1908 enumerates
the persons to present documents for registration at the
proper registration office. It does not mandate that the
presence of both the parties at the time of registration.
The plaintiff has not disputed that the vendor or seller i.e.
Madegowda had executed the document and no doubt
was expressed over his presence before the Registering
Authority. The plaintiff has not made out a case of acquiring
title under the principle of part performance as incorporated
in Section 53 (A) of the Transfer of Property Act, 1882. No
pleading to that effect in the plaint has been made out.
10
The Trial Court and the First Appellate Court have
decided in favour of the plaintiff on the ground that the
buyer was not present at the time of registration of sale
deed. There is evidence to the effect that the second
defendant (Manchegowda) had not come to the office of
the Sub-Registrar at the time of execution of the sale
deed. But as per law as it stood at the material point of
time, there was no necessity of presence of purchaser at
the Registration Office during the registration of sale deed.
The deed was executed by Madegowda and that aspect
has not been disputed. The deed in question does not fall
within Sections 31, 88 and 89 of the Registration Act.
Section 32 of the said Act does not require presence of
both parties to a deed of sale when the same is presented
for registration. In the light of the above, the impugned
judgment does not call for any interference as it is well
reasoned and in accordance with law.
HELD
In the survey of the facts and circumstances it
becomes perspicuous that the challenge made by the
appellant against the impugned order cannot obtain the
forensic support and it will certain have to fail. The
impugned order has been issued after analysis and
assessing the various factors. The order is irreproachable
and cannot be found fault with and therefore the appeal
stands dismissed.
Note : Please write to NCHF Secretariat for copy of above
judgment, if required.
"All humanity is one
undivided and
indivisible family,
and each one of us is
responsible for the
misdeeds of all the
others.
–Mahatma Gandhi
NCHF BULLETIN

SNIPPETS
COOPERATIVE SOCIETIES GET 22% TAX OPTION
Finance Minister Smt. Nirmala Sitharaman on
February 1 proposed that cooperative societies be given an
option to be taxed at 22% plus surcharge, albeit without any
exemptions.
Presenting the Union Budget for 2020-21, the Finance
Minister said cooperative societies played an extremely
important role in the country’s economy by facilitating
access to credit, procurement of inputs and marketing of
products to their members.
“As a major concession and in order to bring parity
between the cooperative societies and corporates, I
propose to provide an option to cooperative societies to
be taxed at 22% plus 10% surcharge and 4% cess with
no exemption/deductions,” the Finance Minister said.
These cooperatives are currently taxed at a rate of
30% with surcharge and cess. (THE HINDU, 2ND FEBRUARY, 2020)
AFFORDABLE HOUSING GETS TAX HOLIDAY
The Budget on February 1 has extended Rs.1.50
lakh benefit on interest paid on affordable housing loans
by a year to March 2021 and also given tax holiday for
another year to affordable housing developers to boost
housing in the country.
“For realisation of the goal of ‘Housing for All’ and
affordable housing, in the last Budget I had announced an
additional deduction of up to Rs.1.50 lakh for interest paid
on loans taken for purchase of an affordable house…. In
order to ensure that more persons avail this benefit and to
further incentivise the affordable housing, I propose to extend
the date of loan sanction for availing this additional deduction
by one more year,” Union Finance Minister Smt. Nirmala
Sitharaman said. (THE ASIAN AGE, 2ND FEBRUARY, 2020)
PRIVATE PROPERTY IS A FUNDAMENTAL RIGHT, SAYS
SC
A citizen’s right to own private property is a
fundamental right. The State cannot take possession of it
without following due procedure and authority of law, the
Supreme Court held in a judgment on January 8, 2020.
The State cannot trespass into the private property
of a citizen and then claim ownership of the land in the
name of ‘adverse possession’, the Court said adding that
grabbing private land and then claiming it as its own makes
the State an encroacher.
FEBRUARY, 2020
In a welfare State, right to property is a human right,
said a Bench of Justices Indu Malhotra and Ajay Rastogi.
“A welfare State cannot be permitted to take the plea
of adverse possession, which allows a trespasser i.e. a
person guilty of a tort, or even a crime, to gain legal title
over such property for over 12 years. The State cannot be
permitted to perfect its title over the land by invoking the
doctrine of adverse possession to grab the property of its
own citizens,” said Justice Malhotra.
The Court was hearing a plea filed by Vidya Devi, a
widow, whose four acres of land was taken over by the
Himachal Pradesh Government in 1967. “The appellant
(Ms. Devi) being an illiterate widow, coming from a rural
background, was wholly unaware of her rights and
entitlement in law, and did not file any proceedings for
compensation…..,” said Justice Malhotra.
When Ms. Devi, 80, learnt about her rights in 2010
from her neighbours, who had also lost their property, she
approached the Himachal Pradesh High Court. However,
when the HC asked her to file a civil suit in the lower
court, she moved the Supreme Court.
Ordering the State to pay her Rs.1 crore in
compensation, the Supreme Court noted that in 1967,
‘right to private property was still a fundamental right’ under
Article 31 of the Constitution.
Property ceased to be a fundamental right with the
44th Constitution Amendment in 1978. Nevertheless, Article
300A required the State to follow due procedure and
DCHFC CELEBRATED NATIONAL VOTERS’ DAY
One of the member organisation of NCHF namely
the Delhi Cooperative Housing Finance Corporation
(DCHFC) celebrated the National Voters’ Day at its
corporate office at New Delhi. The theme of this year’s
National Voters’ Day was ‘Electoral Literacy for Stronger
Democracy’. On this occasion, Shri Rajesh Goyal,
Chairman, DCHFC administered Voters’ pledge to the staff
members of the DCHFC.
Shri Rajesh Goyal, Chairman, DCHFC administering Voters’ Pledge to
the staff of DCHFC on the occasion of National Voters’ Day at New Delhi
11
authority of law to deprive a person of his or her private
property, the Supreme Court reminded the Government.
(THE HINDU, 13TH JANUARY, 2020)
NAREDCO ROLLS OUT FIRST ONLINE PORTAL
Real estate lobby group NAREDCO has launched the
country’s first e-commerce portal, www.housingforall.com,
for ready-to-move in houses which its members will upload
for home buyers. The organisation said the developers will
be allowed to upload the details of projects that have got
Occupation Certificates (OCs) for the next one month, and
then it will be open for home buyers with a 45-day sale period.
For the initial 15 days, buyers will be able to view offers and
shortlist their homes and will be able to start making
purchases from March 1 till March 31.
While Union Housing Secretary Shri Durga Shankar
Mishra used the analogy of an ecommerce giant to say
this could be like the “Amazon for real estate sector”,
experts were of the view that people don’t buy houses
online, though the portal will help them to get all the details
and work as a facilitator.
Nat ional Real Estate Dev elopment Council
(NAREDCO) claimed that builders will make the best offer
to buyers and they can book directly through the portal
with a payment of Rs 25,000. The booking amount will be
fully refundable. It said at least 1,000 projects would be
listed on this portal to give maximum option to the buyers.
Launching the portal, Shri Mishra said, “It is a huge
step for prospective home buyers. W hile having a
discussion with the stakeholders, I told them that credibility
needs to be the most important factor in this portal. If a
person is willing to buy a property then location, price
should be exactly what is promised on the portal.”
(THE TIMES OF INDIA, 15TH JANUARY, 2020)
COOP BANKS TO HAVE MANAGEMENT BOARD
The Reserve Bank on India (RBI) has asked all Urban
Cooperative Banks (UCBs) with deposits of over Rs.100
crore to constitute a Board of Management (BoM)
comprising experts to oversee their functioning which in
turn will report to its Board of Directors (BoD).
The RBI also said that these banks should have a
BoM for seeking approval to expand their area of operation
and also open new branches. It also said that large UCBs
should obtain prior approval of the RBI for appointment of
their CEOs.
The change in rules came against the backdrop of
a scam at the city-based PMC Bank that had over nine
lakh depositors. The establishment of a BoM in addition to
12
a BoD is aimed at separating the executive and supervisory
roles in an UCB. Earlier, all these roles were vested with
the BoD. “Since UCBs are accepting public deposits, it is
imperative that a separate mechanism be put in place to
protect the interests of depositors,” the RBI said.
The RBI asked all UCBs to constitute a BoM under
the directions of its BoD within a year. A BoM should have
a minimum of five members, excluding the CEO, and a
maximum of 12 members. The CEO would be a non-
voting member in the BoM. “The BoM shall exercise
oversight over the banking related functions of the UCBs,
assist the BoD on formulation of the policy and any other
related matters specifically delegated to it by the BoD for
proper functioning of the bank,” the circular said.
(THE TIMES OF INDIA, 1ST JANUARY, 2020)
INDORE, JAMSHEDPUR LEAD SWACHH 2020 TABLE
Indore and Jamshedpur have topped the cleanliness
charts for two consecutive quarters among cities with over
10 lakh population and with 1 lakh to 10 lakh population
respectively. Kolkata remained at the bottom of the ranking
of 49 major cities across both quarters as West Bengal did
not participate in the nationwide exercise. The Union Ministry
of Housing and Urban Affairs (MoHUA) announced the
results of the first and second quarters of the Swachh
Survekshan 2020. The rankings, being conducted in a
league format for the first time, were split into three quarters
(April to June, July to September and October to December
2019) and different categories based on the population of
the city.
Shri Durga Shanker Mishra, Secretary, MoHUA said
Indore, which had been judged number one in the past
three sanitation surveys, remained in the top slot in the
first two quarters of 2019. Bhopal, which came in second
in the first quarter, was replaced by Rajkot in Gujarat in
the second quarter. Surat was at number three in the first
quarter, but Navi Mumbai made it to the third spot in the
second quarter rankings. Shri Mishra said West Bengal
officials had assured him that the State would participate
in the ranking next time.
Among cities with population between 1 lakh and 10
lakh, Jamshedpur in Jharkhand got the top rank in both
quarters. New Delhi fell from second position in the first
quarter to sixth position in the second quarter and was
replaced by Chandrapur in Maharashtra at second place.
A national-level survey of cleanliness of cities will begin
from January 4, leading to the final Swachh Survekshan
2020 rankings.
Shri Hardeep Singh Puri, Minister of State (I/C) for
Housing and Urban Affairs said the cleanliness survey
had become a “part of our consciousness”, after starting
NCHF BULLETIN
from a limited survey of 73 cities in 2016 to today, covering
almost all urban areas. (THE HINDU, 1ST JANUARY, 2020)
LOCAL BODIES TO PAY COMPENSATION FOR
FAILURE TO TREAT WASTE, SAYS NGT
The National Green Tribunal (NGT) has warned that
local bodies will be liable to pay a compensation of Rs.10
lakh per month for a population of above 10 lakh if there
was continued failure to treat generated waste.
A Bench headed by NGT Chief Justice Adarsh Kumar
Goel also directed that an ‘environment monitoring cell’ has
to be set in the offices of Chief Secretaries of all States and
Union Territories. While observing that there was a huge
gap in the amount of waste generated and treated, the Bench
said, “Current processing of waste generated and collected
is also not taking place on a regular basis. For any person
travelling by train, hot spots of scattered garbage and
overflowing sewage are common sights.”
The Bench said, “Satisfactory sewage management
also remains a far cry. This unsatisfactory state of affairs
must be remedied at the earliest and in a time-bound
manner by initiative at the highest level. Accountability
needs to be fixed and consequences for failure clearly
provided and enforced.”
The green panel also specified that financial burden
may be shared with the State Governments in case the
local bodies are unable to bear the costs for remedial
action. “Apart from compensation, adverse entries must
be made in Annual Confidential Reports of CEO of the
said local bodies and other senior functionaries in
Department of Urban Development, etc. who are
responsible for compliance of orders of this Tribunal,” the
Bench added. (THE HINDU, 18TH JANUARY, 2020)
RELIEF TO HOMEBUYERS ON COST ESCALATION
The National Consumer Disputes Redressal
Commission (NCRDC) has ruled that developers are not
entitled to charge homebuyers for the additional
compensation component that was granted to farmers if
the cost of a flat was fixed after the Allahabad High Court’s
October 2011 judgment.
On October 21, 2011, the High Court ordered the
Noida and Greater Noida Authorities to pay additional
compensation of 64.7% to farmers in Gautam Budh Nagar
from whom the land for housing projects was acquired.
The order of the country’s top Consumer Court that came
out was in favour of a buyer who had bought a property
at Prateek Edifice, a 400-unit housing project in Noida’s
Sector 107. The developer, Prateek Group, said it would
abide by the decision of the NCRDC.
FEBRUARY, 2020
Petitioner Saurabh Sindwaani had booked a flat in
Edifice in November 2012 and agreed to pay Rs.1.98 crore
for the same as per the buyer-builder agreement. But
despite paying up by May 2017, Saurabh was not given
the flat’s possession and the developer demanded
Rs.50,000 more towards higher compensation to farmers.
(THE TIMES OF INDIA, 25TH JANUARY, 2020)
NOW, CONCRETE THAT IS ALIVE, SELF–HEALING AND
CAN REPRODUCE
For centuries, builders have been making concrete
roughly the same way: by mixing hard materials like
sand with various binders, and hoping it stays fixed and
rigid for a long time. Now, a team of researchers at the
University of Colorado, Boulder, has created a rather
different kind of concrete — one that is alive and can
even reproduce.
Minerals in the new material are deposited not by
chemistry but by cyanobacteria, a common class of
microbes that capture energy through photosynthesis. The
photosynthetic process absorbs CO2, in contrast to the
production of regular concrete, which spews huge amounts
of that greenhouse gas. Photosynthetic bacteria also give
the concrete another unusual feature: a green colour. “It
really does look like a Frankenstein material,” said Wil
Srubar, head of the research project. The green colour
fades as the material dries.
To build the living concrete, the researchers first tried
putting cyanobacteria in a mixture of warm water, sand
and nutrients. The microbes absorbed light and began
producing calcium carbonate, gradually cementing the sand
particles together. But the process was slow. Srubar
suggested adding gelatin to strengthen the matrix. The
researchers dissolved gelatin in the solution with the
bacteria. When they poured the mixture into molds and
cooled it in a refrigerator, the gelatin formed its bonds —
“just like when you make Jell-O,” Srubar said. After about
a day, the mixture formed concrete blocks in the shape of
whatever molds the group used.
Stored in relatively dry air at room temperature, the
blocks reach their maximum strength over the course of
days, and the bacteria gradually begin to die out. But even
after a few weeks, the blocks are still alive; when again
exposed to high temperature and humidity, many of the
bacterial cells perk back up.
The group can take one block, cut it with a diamond-
tipped saw, place half back in a warm beaker with more
raw materials, pour it in a mold, and begin concrete
formation anew. Each block could thus spawn three new
generations, yielding eight descendant blocks.
(THE TIMES OF INDIA, 17TH JANAURY, 2020)
13
BUI LDER TOLD TO PAY RS.68.51 L AKH FOR
VIOLATING ENVIRONMENTAL NORMS
The National Green Tribunal (NGT) has imposed an
environmental compensation of Rs. 68.51 lakh on a builder
for construction in the green area of a housing complex in
Gurugram, Haryana.
A Bench headed by NGT Chairperson Justice Adarsh
Kumar Goel directed the developer to deposit the amount
with the Central Pollution Control Board within one month.
“Powers of regulatory authorities were required to be
exercised in accordance with these pri ncipl es.
Environmental Impact Assessment procedure was required
to be duly followed. The Deed of Declaration filed by the
builder in 2009 showed the spot to be an open area which
was the basis on which the flats were allotted prior to
2010,”the Bench observed.
Noting that out of a 10.98 acre land meant for the
project, construction took place on a 3.05 acre land, the
Bench said,”[space meant for] open area was converted
into covered area for a commercial tower, irreversibly taking
away the rights to ecological services of the persons to
whom the flats were allotted.” The directions came following
a report furnished by the Ministry of Environment, Forests
and Climate Change (MoEF&CC) recommending
environmental compensation to be paid by the builder.
The Tribunal was hearing a plea moved by petitioner
Anil Uppal and others who alleged that a housing complex
in Gurugram developed by the Ambience Developers and
Infrastructure Private Limited had carried out construction
on an area meant for green space. “Open areas in the
colony are shrinking. Groundwater extraction was
excessive. The builder had undertaken construction on
designed open spaces, blocking fresh air and sunlight.
The approved zoning plans are required maintaining at
least 15% of the total areas as open space,” the plea had
said. (THE HINDU, 15TH JANUARY, 2020)
        
 
  
 
          
         
       
      
        
        
14
       
 
         
         
         
       
         
         
      
        
    
         
        
          
         
          
   
       
        
         
     
      
    
   
         
    
          
          
           
     
       
         
          
        
  
          
          
        
         
NCHF BULLETIN

        
        
      
        
         
         
        
          
         

       
     
  
    
 
     
         
           
  
          

         
        
           
  
         
         
        
          
         
       
       
        
   
         
          
       
FEBRUARY, 2020
          
        
   
         
         
         
          
        
         
   
     
         
         
         
       
     
        
       
       
       
         
        
  
     
          

       
        
       
         
          
           
         
         
     
        
         
    
15
          
        
   
        
    
         
         
           
          
           
       
        
         
 
         
         
    
    
    


      
  

  






   




        
          
16

     
         
        
          
           
          
          
        
   
         
          
         
    
         
       
           
         
     
          
  
      
          
  
    
        

          
 
        
        
     
   
          
         
          
       
    
NCHF BULLETIN
 
 

 

 


 

 
 

       

 
        


 

      

 

 
 

 

 
 
 
 

 
 

 

 


FEBRUARY, 2020 17
 THE IDEAL HOMES COOPERATIVE
BUILDING SOCIETY LIMITED
IDEAL HOMES TOWNSHIP, BANGALORE – 560 098
E-Mail : ihcbs.idealhomes@gmail.com
Phone : 080-28600892

WITH
THE BEST COMPLIMENTS
FROM

BOARD OF DIRECTORS
1. SRI C. M. SUBBAIAH PRESIDENT
2. SRI M. RAJKUMAR VICE-PRESIDENT
3. SRI K. JAISIM DIRECTOR
4. SRI NANDKISHORE MALU DIRECTOR
5. SRI D.M. MUNIYAPPA DIRECTOR
6. SRI G. S. JAGADEESHA DIRECTOR
7. SRI M. T. BIPIN DIRECTOR
8. DR. M. G. ANAND DIRECTOR
9. SMT. K.V. VIJAYALAKSHMI DIRECTOR
10. SMT. BHARATHI A.P. DIRECTOR

18 NCHF BULLETIN
         
         
          
          
 
         
           
        
        
         
     
           
          
       
  
        
          
         
      

         
   
          
          
         
  
           
         

           
         
          
  
    
FEBRUARY, 2020
 
         
           
 
         
        
        
    
         
       
  
       
      
   
          
         
  
    

           
          
           
     
  
    
  
          
  
       
        
        
         
         
19
    
        
        
         
    
   
 
    
         
 
    
   
          
         
     
       
     
         
   

    
    
    
         
        
        
          
         
        
        
 
         
         
         
  
          
          
         
20
   
         
          
   
         
    
     
         
          
         
   
 

          
      
    
 

 
 
   

   
 
 

    
NCHF BULLETIN