Merger Acquisition the Credit Society

Dear Client,

A reduction in membership due to VRS does not, by itself, mandate the merger or amalgamation of the Society. The Society may continue to function so long as it complies with the minimum membership requirements, maintains a valid Board and quorum, and remains financially viable.

However, if the reduction in membership adversely affects its operations or sustainability, the Society may consider merger or amalgamation with another co-operative society. Such a process would generally require approval of the Board, a resolution of the members in a General Meeting, compliance with the provisions of the West Bengal Co-operative Societies Act, 2006 and Rules, 2011, and approval of the Registrar of Co-operative Societies. A detailed review of the Society's bye-laws and financial position is advisable before taking any decision.