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Building maintenance late payment Interest


07-Nov-2023 (In Recovery Law)
I want to what is the percentage and how its calculated. My building i have not paid maintenance from 1991 till now 2023 And my total Maintenance is 6 lakh 14 thousand And my interest is 9 lakh 52 thousand rupees till now . I wanted to know is this correct? Please suggest
Answers (1)

Answer #1
654 votes
Well, if you keep on continuing by not paying Maintenance, then, Recovery Proceedings will be initiated against you under the concerned provisions of the Co-operative Societies Act. If you won't honour to pay maintenance, then, your moveable assets will be auctioned for recovery of maintenance.
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