Legal Question in Real Estate Law in India

Maintainence charges payable and interest payable thereof.

I have been paying my maintainence dues but irregularly, i found that whenever i have paid the dues our society deducts the accumulated intrest first then the remaining portion is deducted from the principal amt. If any thus leading to further intrest in the next bill , on taking out the data of last 5 yrs from the society i found that the amount paid by me to the society was almost equal to the actual amount of maintenence payable but due to the practice of adj the intrest first the amount never seems to reduce, further there is no provision regarding the matter in the society bye-laws. My question is should a society first adj the principal amount on every payment or the intrest amount if yes do we have any case judgement to that effect ?Since the managing committee is itself unaware of any clear direction by the court on the same they have informed me that if i am able to produce specific judgement in any case , then the said charges might be reversed


Asked on 11/25/08, 10:16 am

3 Answers from Attorneys
Homi Maratha N.N. Maratha & Co.-Advocates

Re: Maintainence charges payable and interest payable thereof.

I would advise you to clear the payments in time.

Read more
Answered on 12/23/08, 5:12 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Maintainence charges payable and interest payable thereof.

There is nothing wrong with the accounting practice followed by the society. You may refer to authoritative works on "Banking Law & Practice" and the books on "Advanced Accountancy" to understand the principle.

You should make your payments in time to avoid interest.

Read more
Answered on 11/25/08, 12:03 pm
Shrichand Nahar S.V.Nahar, Advocate

Re: Maintainence charges payable and interest payable thereof.

Approach Co-op. Court.

Read more
Answered on 11/26/08, 1:44 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in India