hi... our soc. is situated at Mumbai & is not yet conveyance & mhada ownership bldg. approx in 2005 committee members borowed 10 lacs loan from co-op bank for major repairs of bldg. 6-7 members not paying any installment to soc. since beginning.
committe made misappropriation of funds of 4-5 lacs. committee given ad-hoc payment to contractor given still contractor stopped work then committee got it done by local road labours by giving cash.
in 2007 society send legal notice for recovery but when asked by members not able to provide detailed amount breakup & receipts of payment made to contractor & details of couple lacs of reuppes in cash to local labour.
case was opposite to society as committee members did not submitted M-20 bonds hence orders was , committee was not having any rights to demand any money from members. then how bank sanctioned loan to illegal committee ?
after loan since 2005 chairman post is vacant & secretary was acting as dectator. secretary died in 2012 leaving his own installment amount payble to bank as well. his flat in dispute for legal hair.
the new tempororay committee was form but not informed to registrar & bank hence committe members not working now because they afraid of bank loan problems to them.
now bank sending letter notice to to society pay deu amount or else it will attach society as society is mortgage. but out of 16 members one member did not gave concern to take loan (or not involved in loan).
can society take loan (by mortgaging society) when one person not given concern for loan other given affidavit for same ?
whether bank will take action against society, committe or members ?
what can be done now... what options members have
additional information- to above...
overall repair work was very poor & society authorised supervisor certified the amount for work was 3.9 lacs & society trying to recover from members according to 10 lacs
bank deals with society for installment but did not any letter to members yet.
we members want to form committe (total 16 members) but heard that as per new amendment we need to inform registrar to form committee & that can be done after 31st december 2014. can we form committee internally 7 inform registrar ?
in 2004-5 may members together complaint to registrar abt misappropriation of soc funds & asked to approint registrar & get accounts examined but registrar did not took any steps.
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