The members were welcomed to the meeting by Dr. Nachiket Shankar President.

36 Members were present in person and there were 35 valid proxies.

Dr.Nachiket Shankar requested Mr. Sushil Joseph, Secretary, to conduct the meeting.

Proof of notice

Mr. Joseph read the notice of meeting and the same was accepted as in order by the house. The minutes of the previous meeting had been circulated. A resolution to pass the minutes was proposed by Suraj Vasanthan and seconded by Malavika Kapur. The resolution was carried unanimously.

Annual Report and Annual accounts

The annual report of the EC and the audited balance sheet had been circulated to all members. The President read the annual report and the Secretary explained the salient points of the accounts. The finances of the association were sound, costs were under control and arrears being recovered. As a result, several capital works have been carried out without any additional call for funds. The surplus accumulated over the past years is held in FDR in Bank of Baroda. A resolution to pass the accounts was made by Hamid Abdullah and seconded by Shonali Chinniah. The resolution was carried unanimously.

Chartered Accountant
The proposal to re appoint the Chartered Accountants, R.G.Hegde, was proposed by Shobhana Kuruvilla and seconded by Gouri Hegde . The resolution was carried unanimously.

Transfer Fee

It had been decided at the last AGM to raise the transfer fee at the time of change of ownership to Rs 25000, to be recovered from the new buyer. The Secretary pointed out that through inadvertence the amount recovered in the period between December 20 to date was Rs 20000 per plot. The members were requested to excuse this error on the part of the EC who confirmed that the sum of Rs 25000 would be collected henceforth. This acceptance was proposed by Malavika Kapur and seconded by Gouri Hegde.

Regularisation

The Secretary summarized the various actions taken by the association to safeguard their interests and to ensure that no common assets were gifted to the local authorities without the knowledge of the association. The meeting was also informed about the progress, albeit slow in the approval of the individual pattas and the action proposed to make applications for the regularization of individual plots.

Election of a new EC

The meeting thanked the outgoing EC and voted in the new EC unanimously as per details below: