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amarsharma (Journalism)     05 January 2021

Lapsing of agm resolutions

Does a resolution adopted by majority of members in the AGM of an Apartment Owners Association lapse at the end of the financial year of the respective AGM? 

For example, if the AGM of previous year resolved to raise funds from members for some capital expenditure, can the fund raising be undertaken in the following financial year? Or does the Association have to pass the same resolution once again in a freshly held AGM or EGM? 



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