Gully Moviez

About GULLY MOVIEZ MUTUALLY AIDED COOPERATIVE SOCIETY LTD

HISTORY

The Main history behind the voluntary formation of GULLY MOVIEZ cooperative society as accountable, competitive, self-reliant business enterprises, based on self-help and mutual aid and owned, managed and controlled by members for their economic and social betterment and for the matters connected therewith or incidental thereto.

GULLY MOVIEZ shall frame byelaws conforming to the following principles of cooperation, namely,

(a) membership of a cooperative society shall be voluntary and available without restriction of any caste, social, political, racial or religious discrimination, to all persons who can make use of its services and are willing to accept the responsibilities of membership;
(b) cooperative societies are democratic organisations; their affairs shall be administered by persons elected or appointed in a manner agreed by the members and accountable to them. Members of cooperative societies shall enjoy equal rights of voting (one member, one vote) and participation in decisions affecting their cooperative societies.
(c) share capital shall only receive a strictly limited rate of interest, if any;
(d) the economic results, arising out of the operations of a cooperative society belong to the members of that cooperative society and shall be distributed in such a manner as would avoid one member gaining at the expense of others, which shall be achieved:
- (i) by provision for development of the business of the cooperative society;
- (ii) by provision of common services; or
- (iii) by distribution among the members in proportion to their transactions with the cooperative society;
(e) cooperative societies shall make provision for the education and health of their members, officer-bearers and employees and of the general public, in the principles and techniques of cooperation, both economic and democratic;