Property tax refund from municipality mumbai

rama gopalkrishnan (Querist) 28 October 2022 This query is : Resolved
Our Society had received refund from Municipal Corporation Greater Mumbai in the year 2016 with interest.

Our Secretary and Chairman have been harassing few members and we have not received our Property Tax Refund till date.

Recently a new Committee has been formed who have been working on this and have promised to give our Property Tax Refund but, WITHOUT intetest.

After 7 years we may be getting our Refund now. How will we accept without interest? Society has intentionally held our monies and they have been earning interest on our monies retained in the form of FDs as Society cannot hold Cash.

The new Secretary says there is no provision in the Bye-laws to give our interest.

Bye-laws will never mention about how to misappropriate other's funds and how not to pay interest.

It's our hard earned monies and how can we bear this loss? Why should Society retain our interest? Please advise what has to be done.

Thank you.

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Quick Summary

Members of a Mumbai housing society are seeking advice on how to claim interest on their property tax refunds, which were received from the municipality in 2016. Despite the society holding onto the funds and earning interest, some members have not received their share of the refund or any associated interest, even after seven years. The new committee has offered the principal amount but refuses to pay interest, citing a lack of provision in the bye-laws.

kavksatyanarayana (Expert) 28 October 2022
You with other owners shall insist to pay the interest which was received from Municipality. Otherwise, you complain about it to the Dy.Registrar of Cooperative Housing Societies concerned.

rama gopalkrishnan (Querist) 28 October 2022
We are asking for interest because our Refund amounts are lying with the Society whereas majority of the members have received it in year 2017.

Thank you🙏

P. Venu (Expert) 01 November 2022
The posting suggests deeper issues. Please post complete facts.
Why some among the members were denied refund? Was it with the approval of the GB or the MC?
Who has been having the custody of the amount that was not refunded? If the money is with the Society has been invested or kept in deposit?
Have the deprived members taken up the issue with the authorities concerned?

rama gopalkrishnan (Querist) 01 November 2022
Many members who sold the flats did not demand. We few members have mentioned in the sale deed that we should be given the Refund whenever it is given to the new owners. Even after that!, the then Secretary and Chairman were harassing everyone. Actually the amount should be given to the flat; whoever the owner is. They have been embezzling all the monies of the Society all through. We few who had sold our flats have remained in the same Society after purchase of bigger flats. So, we have been pursuing for our monies.

The Refund should be in the bank in FDs. As per bye-laws Society cannot hold any big amount by way of Cash.

Pl. advise.

Thank you.

P. Venu (Expert) 02 November 2022
Please post specific facts than subjective opinions and wild allegations.

rama gopalkrishnan (Querist) 02 November 2022
Have specified the scenario. Can't attach proofs here. Proofs need to be submitted in the court. Let's not get digressed from the main issue.

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