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Conflict of interest - bye law and memorandum of our apartment association

(Querist) 20 March 2013 This query is : Resolved 
We have formed and Registered the Association for our Multistoreyed apartment. The total collection of corpus fund will be Rs. 5.00 crores and the annual maintenance cost will be Rs.4.0 crores and Rs.5.oo crores. Do we need to include the "Conflict of Interest' clause in the Memorandum and Bye law to protect the interest of the members. Kindly advice.
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ajay sethi (Expert) 20 March 2013
get it vetted by a local lawyer
R.K Nanda (Expert) 20 March 2013
contact local lawyer.

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