Legal Question in Real Estate Law in India

Hello,

The managing committee members of a maharashtra CHS have executed the M 20 indemnity bond in august 2009 .

Now i am confused about:

1. When does the M20 bond become void (What is the period)?

2. If after the Bond was submitted the Secretary,Chairman and 1 Managing committee member changed after 4 months does the bond become void ?

3. In my society secretary/chairman got changed after we executed the bond but i was a managing committee member then and still now .So am i still bonded by this M20 indemnity bond ?

Attached below is the format of M20 Indemnity bond for your reference

Thanking you in advance,

Amit

(Form M-20

(See Rule 58-A)

I, Shri. ....................................... age xxx resident of ....................

has been elected on the Managing Committee of ''''''''' Co-Op. Hsg. Society Ltd,

.................................................. ....... for the period .

I have assumed office from

I declare today i.e. ............... that I shall be jointly and severally responsible for

all the decisions taken by the committee during its term relating to the business of theSociety and shall be jointly and severally responsible for the acts and omissions

detrimental to the interest of the Society, as provided in section 73(1AB) of the Act.

( Signature)

Managing Committee Member

Date:

Place:

Signature of witness :

Hon. Chairman/Hon.Secretary

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