Use of major repairs and maintenance fund

This query is : Resolved 

Querist : Anonymous (Querist)
12 April 2021

Shall society utilize the fund from the Major Repairs & Maintenance Fund to build the solar project

kavksatyanarayanaOnline (Expert)
12 April 2021

Generally, this item might not have been mentioned in the rules and regulations of Bylaw of the society. so cannot. But verify the bylaws of the society. The General Body in a meeting with 2/3rds or 3/5th majority attended the meeting for the purpose may decide. You can deal with the issue in an amicable way. Otherwise, make a complaint to the Deputy Registrar of Cooperative House Building Societies of your district.

ashok kumar singhOnline (Expert)
13 April 2021

yes, Society can if the bye-laws permit so.

Hemant AgarwalOnline (Expert)
13 April 2021

1. YES .... "ANY" balance sheet accumulated Funds can be used by Society, by taking prior sanction in General Body Meeting, via a proper Notice-Agenda-Minutes.

Keep Smiling .... Hemant Agarwal

Advocate Bhartesh goyalOnline (Expert)
14 April 2021

Agree with the above expert Hemant Agarwal.

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