Legal Question in Consumer Law in India
I have given my flat cum office as collateral security for bank against business loan now society refuses noc as required by bank citing reason of commercial activity done in the flat hence we can not give the noc is this true and under which law
Asked on 2/09/14, 3:00 am
2 Answers from Attorneys
Fca Prashant Chavan
Expert Edge LLP
09.02.2014
Dear Sir / Madam,
A co-operative housing society is governed by the bye laws which clearly stipulate that commercial activity therein is prohibited. The Society is right in refusing the NOC due to violation of byelaws.
Regards,
Answered on 2/09/14, 4:01 am
Generally commercial activities are not allowed still you can check the by laws of the society.
Answered on 2/11/14, 2:15 am
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