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Anita Singh (avocate)     22 May 2018

Interest

can co.op society charge interest to member on late payment without resolution



Learning

 3 Replies

Adv Deepak Joshi +917017821512 (Advocate)     22 May 2018

No, there is no such provision.

Anita Singh (avocate)     22 May 2018

sir i didnt get you 

i was meant to ask can co.op society charge interest to member on late payment without general body resolution  .

pls let me know

thx 

Kumar Doab (FIN)     22 May 2018

GO thru Bye laws of society framed in  accordance with Model Bye laws..( Clause70)

Max. simple interest 21%pa

The society can decide in AGM.

 


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