In the absence of any General Body Resolution can the Managing Committee levy Interest on delayed payments.
Coz the Bayelaws provided for that the society can levy Interest upto 21% on the arrears with the apprpoval of the General Body .
azim (clerk) 11 June 2012
In the absence of any General Body Resolution can the Managing Committee levy Interest on delayed payments.
Coz the Bayelaws provided for that the society can levy Interest upto 21% on the arrears with the apprpoval of the General Body .
![Dr. MPS RAMANI Ph.D.[Tech.]](/img/avatars/my_avatars/84227.jpg)
Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer) 17 June 2012
No. The General Body should pass a resolution fixing the rate of penal interest within the limit prescribed in the byelaws. The Notice of convening the General Meeting should show the item in its agenda.
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