Fund raise for repair

Anupam Jadhav (Querist) 21 May 2014 This query is : Resolved
Dear Sir,

1) can we charge penalty on contribution amount(for repair work in society)after deadline as decided in AGM.

2) Can we add contribution amount(for repair work in society) in maintenance after meeting the deadline to earn interest @21% PA as penalty?

3) Can committee member in committee meeting change the decision taken in AGM to extend the deadline to make payment of contribution amount(for repair work in society)?

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ajay sethi (Expert) 21 May 2014
1) if member fails to make payment on time on repair contribution you can charge interest
2)pass resolution for levy of interest on delayed payments .

3) extend deadline based on representations received from members

Rajendra K Goyal (Expert) 21 May 2014
1. Interest can be charged after deadline if resolution passed in the AGM.
2. Resolution need to be passed.
3. decision can be taken if bye laws / resolution permits.

Anupam Jadhav (Querist) 22 May 2014
Sir,

Is there any bye laws to restrict committee to change AGM decision for point no 3 or if they have changed the decision on their own without calling general meeting.

ajay sethi (Expert) 22 May 2014
AGM decision is final and binding on all members . in case of representations received from members MC can extend the period for making payment subject to ratifcation By AGM

Anupam Jadhav (Querist) 22 May 2014
Sir,

any bye laws no or reference number mention in books

ajay sethi (Expert) 22 May 2014
read bye laws adopted by your society regarding levy of interest on late payments, carrying out repairs .

society has to be practical in its approach if members are unable to pay repair charges on time within deadline set by AGM society should consider representations received from members . extend time subject to ratification By AGM . place the issue in the agenda of next AGM

ajay sethi (Expert) 22 May 2014
or if you want to adopt a pure legalisitc approach call for EGM on representations received from members to consider extension of time for making payments towards repairs