Co-operartive Societies Act 1956

Nirmala Bhosale (Querist) 02 May 2010 This query is : Resolved
Can society charge 21% interest if any member is defaulter and can society charge maintenance charge which will occur in future

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Guest (Expert) 03 May 2010
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE

MOBILE.9271971251
e.mail.adv.nbsawant@yahoo.co.in
e.mail.nandkumarbs@sify.com

REGARDING THE RATE OF INTEREST BY COOP SOCIETY KINDLY NOTE THAT

1.YOU MAY KINDLY SEND DETAILS AND AREA AND LOCATION AND ACCORDINGLY COOP.SOCIETY ACT PROVISIONS CAN BE SUGGESTED.
2.MAH.COOP.SOC.ACT 1960 .THERE IS A PROVISION WHICH GETS AMMENDED, THE RATE PERMISSIBLE WAS 15% p.a.

YOU MAY KINDLY SEND DETAILS WILL HELP YOU.
THANKS.

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