Use of major repairs and maintenance fund

Querist : Anonymous (Querist) 12 April 2021 This query is : Resolved
Shall society utilize the fund from the Major Repairs & Maintenance Fund to build the solar project

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This discussion explores whether a society can use its Major Repairs & Maintenance Fund to finance a solar project. While bylaws might not explicitly permit this, a General Body meeting with the required majority can approve such expenditure. It's crucial to check the society's specific rules and, if necessary, seek guidance from the Deputy Registrar of Cooperative House Building Societies.

kavksatyanarayana (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 singh (Expert) 13 April 2021
yes, Society can if the bye-laws permit so.
thanks

Hemant Agarwal (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
VISIT: www.chshelpforum.com

Advocate Bhartesh goyal (Expert) 14 April 2021
Agree with the above expert Hemant Agarwal.

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