On behalf of the EC it gives me pleasure to present the 4th annual report and the audited accounts of RRVRPOA for the financial year ended 31st March 2007.
Accounts: Members are already in possession of the income and expenditure account and the balance sheet. It will be noticed that thanks to our prudent management we continue to have a substantial surplus which is transferred to reserves and which will be used in due course for the maintenance and improvement of the infrastructure as and when the need arises.
Capital Expenditure: In the current year we have started on a program of installing street lighting on the main avenues. An expenditure of about Rs 50000 has been incurred.
Membership: We currently have 140 members (Hamid to check please) who between them hold _ plots of the total _ plots sold . During the year since we held our last meeting we have had new members.
Arrears: The following members are in arrears for the years 2004/05 and 2005/06 and 2006/07 - Salma Jaffer - Prakash Rao - Dilip HajA - Jaykumar
We call on them to pay their arrears immediately.
Improvement of common areas: The program of planting trees and shrubs which was initiated last year has been extended. An area close to the boat house has also been landscaped and benches installed to provide a picnic area. So far we have planted about 2000/- plants in 6 different common areas and the cost has been about Rs.25000/-. Landscaping such as levelling of some part of boat house, building benches and pond cost about Rs.25000/-.
Development of members plots : The association currently maintains 11 plots on behalf of members.
New cottages: The cottages commenced by Vikram / Sreya Rao and Nomita Chandy are nearing completion.
Legal Matters: The various legal matters at the courts in Hosur are being followed up by our lawyer Mr. R.Narasimhan in Hosur. At this point in time we are totally confident that they are being vigorously pursued. The original suit (OS 142/2003) against RRVRPOA, seeking to have its status as an association revoked, was filed in October 2003. Since then there has been a lot of legal wrangling but basically all matters seem to be stalled in the Munsiff court at Hosur. Sometime in November 2006, the Subordinate Judge in Hosur, ruling on an application by us, directed the Munsiff to rule on the case within 90 days. However we submitted two applications to the Munsiff: one saying that his court did not have the jurisdiction to rule on the OS and another saying that the other that the OS was vastly undervalued and hence was on this count also beyond his jurisdiction. The Munsiff has not ruled on these applications and it appears at this stage that the whole thing is stalled. It appears that much more time is going to pass before anything happens. The Consumer Forum action initiated by some members is being pursued.
Sales / Purchase of plots : There have been a few sales/purchase of plots during the past year. We will soon be sending members a check list containing information on the procedure to be followed should they desire to sell / buy plots.
Discussions with promoters: We would also like to inform you that taking into account the views expressed by members at the last AGM, we initiated a dialogue with the erstwhile promoters. Over the past year we have had several unofficial and one official meeting with Mr Ivan D'souza, Managing Director of RCH. While the meetings have been cordial and harmonious not much progress has been made. This is because of the insistence by RCH that any substantive talks should be preceded by a letter to RCH from RRVRPOA (representing the plot holders) stating that RCH has completed the project in its entirety. Our ( RRVRPOA) contention is and always has been that we are willing to discuss all matters but without any pre conditions. We are sure that members will approve this stand.
I would like to end by thanking all members who served on the EC this year.