At the outset many thanks for providing vital bit of information related to coop societieswhich is of immense help for society members like me.
I own a shop Mira road a suburb just next to Mumbai which is leased out to Tata finance. I had purchased the shop with present tenant in place just agreement has been changed to my name in place of previous owners name with same terms & condition
I own the shop for more than 1 year now. This month when i went to society office to pay my maintenance iw as told by accountant that I have to pay penalty of Rs 1000 per month for not providing copy of new agreement with TATA finance.
I was not given any written notice to provide the new agreement which i will do now as i have come to know the same.
Is the managing committee right to levy a penalty of Rs 1000 per month for just not providing copy of change in ownership agreement
Please advice what can i do to get this penalty waived off
I C Naik
Penalty on member of CHS can be levied only in accordance with provision in the Bye laws.I suggest
(i) Hand over copy of the agreement to Accountant
(ii) Do not pay the Penalty
(ii)you get copy of your bye laws (costs Rs 100 approx).
(iii) After reading concerned bye Law write a brief letter agreeing to pay penalty if the Accountant convenes you that Penalty of Rs 1000 was correct as per the Bye law No…..
