Legal Question in Real Estate Law in India
It has been decided by a co-operative Housing society in its special General Body Meeting held on 17th March,2013 to collect exhorbitant amount of Rs.60,00,000/- (sixty Lacs) from its members towards out of pocket expenses said to be incurred for obtaining Deemed Conveyance.
It is further decided to recover this amount from the members in their quarterly bills on the basis of area of their respective flats and shops and levy interest on delayed payment @ 18% and keep this amount under the head of �Deemed Conveyance Contribution� in the separate Bank A/c to be opened with Greater Bombay Co-operative Bank Ltd.
This meeting has been attended by 52 members out of 220 members holding 181 flats and 39 shops .
You are therefore requested to please let me know whether the decisions taken by the society to (1) collect Rs.60,00,000/- towards out of pocket expenses,(2) Recovery from members on the basis of area of their flats and shops (3) deposit this amount in Greater Bombay Co-operative Bank Ltd. and (4)levy of interest @18% to defaulter members are valid or not.
1 Answer from Attorneys
Such important policy decision affecting large number of members (financially) cannot be taken even by simple majority..Consensus has to be worked out. Please also check up the by-laws of the society and verify whether such vide powers are given to the society to take such decision.
Please approach to the registrar to solve your problem
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