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arunkumark (law study)     27 November 2013

Indemnity bond m20 for housing society

The idemnity bond  M20 is not required to be submitted mc of housing society as per the gr released in september 2012.Though the managing committee members are moraly responsible for all the acts and deeds during their tenure.If the comittee member has not filled the m20 bond when he was in managing committee in 2005 and 2007 but now that committee is dissolved and new committee is formed . What action can be taken against that member for not filling the M20 bond.Once the commiitte is dissolved the Dy registrar does not entertain any such complaint saying M20 bond is nomore in force and he can not take any action on dissolved managing committee.Is it correct.


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