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Co-working Space for Startups in India | Founders Cube

BASIC GUIDELINES FOR THE FORMATION OF CO-OPERATIVES UNDER KARNATAKA SOUHARDA SAHAKRI ACT, 1997 ·       There should be at least ten persons. ·       These persons should be from different families. ·       These persons should be competent to enter into a contract under the Indian contracts Act 1872. ·       He should reside in the area of operation of the Cooperative. ·       He should be eligible as per the bye-laws of the proposed Cooperative. ·       Any individual, firm, company or any other body corporate can become member of the Cooperative. ·       Any Cooperative registered under this Act (For Union cooperative) or Societies registration Act 1860. ·       The object of the Cooperative should be promotion of economic interests or general welfare of the members or the public, in accordance with the co-operative principles. ·       It should be economically sound, its registration should not affect adversely on the development of the co-operative movement.