Legal Question in Credit and Debt Law in India

Five years back when I was Treasurer of our Apartment Association, Cashier of the Association misappropriated Rs.51000/-. He admitted the misappropriation by him.

In the General body meeting of the Association, decision was taken that Office bearers should lodge Police complaint to collect the money. Then Police complaint was lodged. Office bearers could not collect the money.

Now (ie., after 5 years), the present office bearers have passed resolution that the Treasurer at that time (ie., me) should pay the money to the Association. Kindly let me know if this resolution valid? What I should do?.

Regards

Faithfully,

Ramachandran


Asked on 10/01/15, 10:46 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

02.09.2015

Dear Ramachandran.

Yes, the Association;s resolution is valid, so you and the Cashier will have to bear, incur and equally pay up and settle the Association;s loss of Rs, 51,000/- (Rupees Fifty One Thousand Only).

Regards,

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Answered on 10/01/15, 6:46 pm


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