Sir
Some members in our coop housing society in Andheri have not been paying their monthly society maintainence in time
This is causing lots of problems
I also asked the society that when we dont pay you charge us interest of 3% monthly and when the other members are defaulting you dont charge any interest or sometimes 1.5% only.
I want to put case on my society as they are charging different interest rates from members of the same coop housing society
I also want to know what is the rate of interest a society can levy on members who dont pay their monthly maintainence on time. Is this simple interest or compound interest.
Also is there any provision of allowing defaulting members to pay their outstanding dues without charging them any interest or by letting go of interest.
If so under what provision of Maharashtra societies act.
Regards
Amit Desai
Andheri Mumbai
