vamique (manager) 25 March 2016

Interest on building repair contribution

can a society charge interest on delay in contribution made towards building repairs (collected separately)

3 Replies

dr g balakrishnan (advocate/counsel supreme court) 25 March 2016

society has to give other members who had contributed and took the burden of his contribution so charling simple interest is right sir, else it becomes an incentive for others to delay payments that way rule of law in a society need be followed by all memberd without any exception unless tere are other reasons please sir . tks