Corpus amount collected very frequently by apartment MC?
We are staying in apartment in Bangalore Sarajapur road area.The corpus amount are collected or demanded by MC member very frequently? What are criteria to collect and how often they should collecting the corpus? How does this work? We are not getting expenses report.Is there any legal proceedings and send a notice so that they publish it before asking for it. Plz advise. more
Thank you sir, No. 10 This one is really tricky one. The People are in MC business they utilize to almost maximum. They should consider the 1/3 Rd if total flat owner rather considering the 1/3rd of member present in the meeting. You will find always same set of previous MC member present in the meeting.There are certain no people who utilize their intelligence and get the benefit from others ignorance and lack of knowledge. more
Ref your no.10: All decisions shall be taken in the form of "resolutions" adopted by majority votes (aye) taken in a general body meeting of flat owners(members of owners association). The general body meeting shall have a quorum of 1/3rd of total members. more
Thank you for your valuable inputs and time. Further to my study and check with known lawyer contact who are handling property issue and association issue on daily basis. I am going to underline some important point as per my understanding considering my issue. 1.Association by laws should be handed over to respective owners if the owner joined or bought the flat after the association formation. 2.The MC election has to transparent and should be in democratic way rather it is decided by any of the previous MC or builder. 3.Any major decisions has to properly consulted with the property owners or representive and reach a consensus before resume the work or spending any fund. 4.The expense report should be published along with account statement monthly or quaterly at their earliest convient before next payment cycle starts. 5.The corpus fund should be deposited in the bank as FD and can be used only in the time of emergency. The interest earned from the corpus fund can be withdrawal and use for general expense if it is required. 6.In house resident CA should not be allowed in the auditing process or any financial transactions of the association if they are not part of current MC. 7. The maintenance amount should be discussed well in advance with proper study before finalizing in any channel convient to all the property owners and it can't be forceful. 8.MC members are answerable to any query raised by owners or any residents. 9.MC should be taking time and organizing the monthly or quaterly meetings along with fact shit along with details of work carried out. 10.There are more than 1/3 votes(yes) of total apartment required to approve any major discussion. 11.Handover should be done very in transparent and smoothly manner with all the proper audit report to future MC within fortnight. 12.There should be formal communication well in advance for any work carried out in the society without effecting normal hours and working cycle. 13.Every single owner has all the right to raise any concern in owners platform and can issue to notice to respective MC within fortnight of month time if they failed respond back. 14.The revision of the work should be done every year carried out by any previous MC if the issue is still exist. However, please correct me or add any point if I missed anything. Thank you again in advance. Regards, Pitabasa more
Check your association registration document for information on the rules and conditions for managing finances and specifically maintenance collections and corpus funds. Not necessary to jump to legal action every time. Corpus fund is usually collected only after a GBM approves a specific expense item. It cannot be collected adhoc and definitely not frequently. Please talk to the concerned people first why they are collecting and what is being done with the amount collected. more
Builders R supported by their Political Masters n Checking them is not easy. V must seek ways for them to Hand over the control to elected Group - most of the Time Elections not possible in early stages as the Flats R Resalable n No one takes Responsibility to accept Free Service to Fellow members more
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