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Kartik Kanchan   01 September 2019

Society law for adding interest on repair funds.

Hello to all,
I am Kartik Kanchan I stay in society where they had demanded for repair fund of 50K and they had called a meeting on 15 August to discuss further proceedings on members who are not able to pay. We didn't attend it as we were out of station. Only 15 member are not able to pay I am one of them so they decide to charge 12% interest to us. We have no due maintenance bills at present and I wanted to ask is it legal to charge interest on non government funds.
Please guide me.


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