Dear Sir,
Our Society is registered in Thane District of Maharashtra and situated in Mulund. We had made an expense for leakage issue in the wall attached to my flat, the society had promised to reimburse the amount of the expenses being spent by us. But since we were unknown of the fact to attain a Letter from the Secretary of the proof that they agree to reimburse the money, we did not have a proof. Since they did not reimburse, We did not pay the amount of maintenance bill for a month; due to which they charged interest claiming the arrears on such non payment. After that they continously charged interest on interest viz. Compound interest on the arrears amount.
I want to know whether any Cooperative Hsg. Society can charge interest on the interest outstanding along with the original amount. i.e.compounding interest? Since then the maintenance charges are being imposed by society on outstanding maintenance charges. Further, the said charges are arrears+maintenance amount+ interest + interest on (maintenace amount and earlier interest on arrears taken together to calculate new interest). Is is fair? Can my society charge interest this way??
Also how to come to a Compromise of a particular amount for payment of unpaid maintenance amount?
Kindly advise to take suitable action accordingly…..
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