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Flat owner association - withdraw Fixed Deposit for apartment Flat owner association - withdraw Fixed Deposit for apartment

2 years ago

Hi
President and 80 % member trying to withdraw Fixed Deposite for appartment maintainance like color, plumbing repairing, but some member are disagree as fixed deposit has been made for regular maintenance like electricity bill, lift AMC etc.

What can we do, how to oppose as we don't want fixed deposite to be withdraw for such work.

Is there any legal way as they have mejority

Anik

Responded 2 years ago

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A.Dear client,
In the flat association, usually, memorandum of rules are formed refer to the rules to understand where the fixed deposit should be invested. In the absence of the rules, let the members of the association will decide through the common facility to vote.
.
Thank you.

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Kishan Dutt Kalaskar

Responded 2 years ago

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A.Dear Sir,
The resolution passed by majority of the members will decide the issue.

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