Defaulters - housing society

prashant kunder (Querist) 04 August 2014 This query is : Resolved
Dear Sir,

One of our members has not paid society maintenance dues since 2005 and has recently started paying dues partly. Please guide how the adjustment should be done. Whether the interest component has to be adjusted first or the principal amount.

Regards,

Prashant
Mumbai - Maharashtra

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Devajyoti Barman (Expert) 04 August 2014
Better forgo interest and adjust towards principal amount only.

ajay sethi (Expert) 04 August 2014
you ought to have taken recovery proceedings under section 101 of MCS ACT . your claim for period over 3 years would be barred by limitation . adjust it against interest

Rajendra K Goyal (Expert) 04 August 2014
The claim over 3 years is time barred. You should recover with interest.

Sudhir Kumar, Advocate (Expert) 05 August 2014
read society constitution.

let the interest be recovered from secretary /president/executive members who had taken no action for 10 years.

Isaac Gabriel (Expert) 05 August 2014
In any loan repayment,th einterest componemt shall be cleared before apportioning to principal.

T. Kalaiselvan, Advocate (Expert) 07 August 2014
Well advised by experts, nothing more to add.

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