Forfeiture of Membership
This query is : Resolved
14 September 2008
XYZ is a Trust registered under Bombay Public Trust Act, It has A scheme permitted by its bye laws to allow its members to pay membership charges (which will form part of corpus Fund) in Installments. But few Members defaulted in paying the Installement Due on specified Days Managment therfore decided to forfiet the money recived
Is there any provision to show such forfeture amount, if yes where it can be shown
Is there any provision to show such forfeture amount, if yes where it can be shown
14 September 2008
you have to refer to the clauses of trust deed or its bylaws
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