Housing society - interest charged on special repair funds
Nilesh Shirode
(Querist) 11 November 2023
This query is : Resolved
Dear Sir / Madam,
Our society is collecting the funds from members for replacement of lift, lifts will be replaced after next 6 months, in such case whether society can charge the interest on delayed payment for expenses which will be incurred after 6 months?
T. Kalaiselvan, Advocate
(Expert) 11 November 2023
It is an unjustified levy, you can refuse to pay interest on the delayed payments and ask them to proceed legally because there is no provision in law to charge interest over such payments made in a delayed manner
kavksatyanarayana
(Expert) 12 November 2023
No. They can not levy the interest on delayed payments.
