Recovery of outstanding dues by a co-op hsg soc.
This query is : Resolved
01 March 2021
Dear All,
Can a co-operative housing society adjust the outstanding maintenance amount paid by a member first towards interest and late fee and the balance amount towards principal amount outstanding?
Is there any such provision as per Maharashtra co-operative societies act? If yes, can someone please quote the relevant section / clause from the act.
Kindly assist.
Can a co-operative housing society adjust the outstanding maintenance amount paid by a member first towards interest and late fee and the balance amount towards principal amount outstanding?
Is there any such provision as per Maharashtra co-operative societies act? If yes, can someone please quote the relevant section / clause from the act.
Kindly assist.
Dhirajlal Rambhia
(Expert)
25 September 2021
Yes, it is the common practice adopted by all the societies.
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