FSI
Querist :
Anonymous
(Querist) 17 November 2010
This query is : Resolved
In road cutting, a Co-operative society was supposed to get FSI from BMC which it sold to a member of the society without obtaining a title. It entered into an agreement with the member for sale of FSI for 29 lacs without getting the title in its name. The Money was paid by the member by account payee cheque was not reflected in books of accounts. The member complained about the matter before the registrar. The enquiry u/s 83 and 88 of the MCS Act 1960 were conducted in 2009 and the enquiry officer established that the payments had come in but not accounted and there was no title to the property. The audited accounts were not correct. The enquiry officer has pointed out in his report that in the event the title is not obtained monies with interest is required to be refunded to the member. The property card shows that the land which had gone in road cutting is still in the society's name. The Managing committee of the society has undergone a change from then (1996-2001).
The new managing committee (elected in 2007) does not want to touch this issue again as it would mean refunding of money with interest as there is no title to the property and tax liability. This new committee is of the view that I should have dealt with the same when the old committee was in place and are saying that nothing can be done now. They are however, saying that they would help me for the entitlement by signing the papers, applications to be made to the BMC, but the cost would need to be borned by me. The property card in the BMC records still shows the total area without deducting the land acquired by it. The procedure is time consuming and costly too.
I want the society to show the amount which I have invested with the society of Rs 29 lacs in the books, so that in the event the title is not obtained, then atleast I can claim the same with interest in the court of law, if I am unsuccessful in getting the title, as I understand that the same needs to be claimed within 12 years. I have already informed BMC vide my letter that I have purchased the said FSI from the society within the said 12 years.
Can you guide as to how to approach the issue to get the amount reflected in view of the inquiry reports observation made? I understand that a co-operative society has a perpetual succession and the stand taken by the newly elected managing committee that it was the old managing committee responsibility is incorrect.
