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sunil shah   19 April 2021

Sinking fund & repair fund

Dear Sir's,

Would like to know about Sinking Fund & Repair Fund.

Q1) Is collecting Sinking Fund Compulsory in a Co-Op  Hsg. Soc. ?

Q2) Is Collecting Repair Fund Compulsory in a Co-Op  Hsg. Soc.  or it is upto the Society to collect or not?

 



 5 Replies

Sankaranarayanan (Advocate)     19 April 2021

Check with the Byelaw of the society 

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     19 April 2021

1. IF the Society is in Maharashtra and is registered under Maharashtra Coop. Societies Act, THEN it is absolutely necessary to collect Sinking Fund (0.25%) & Repair Fund (0.75%) from its members.  There is no exceptions to this.

Keep Smiling .... Hemant Agarwal 
VISIT:  www.chshelpforum.com

1 Like

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     20 April 2021

Necessity is the important base for any such collection.  As already advised, do interact with the Secretary and other members of the Society get yourself acquainted with the need for such collection and then act as per the bye-laws of the society in which you are a member.,

Kishor Mehta (CEO)     20 April 2021

Shri Hemant Agarwalji has very aptly clarified the query for the co-operative housing societies situated in Maharshtra.

Dr J C Vashista (Lawyer)     21 April 2021

State Cooperative Societies  Act apply, which state you have referred ?


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