Legal Question in Real Estate Law in India

If my co-op housing society has passed a resolution at its AGM for charging 24% per month interest on all overdues from members, then would that resolution be valid since it contravenes the bye-laws. Also is it a criminal/civil offence to charge and collect such exhorbitant rate of interest [ as one or two members have paid out of ignorance]


Asked on 8/12/09, 6:23 am

3 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

If the resolution passed by MC is contrary to Bye-laws, you may challenge the same before the R.C.S.

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Answered on 8/12/09, 10:50 am
Shrichand Nahar S.V.Nahar, Advocate

Resolutions can not supersede bye-laws.

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Answered on 8/13/09, 1:08 am
Rohini Kumar Tenneti R.K.1080 LEGAL SERVICES

Society's bye laws cannot be contradicted.

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Answered on 8/13/09, 3:23 am


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