Normally corpus fund or maintenance fund denotes a permanent fund kept for the basic expenditure needed for the survival of the organization.

 Corpus fund is generally not allowed to be utilized for the attainment of the purpose but interest or dividend on such fund can be utilized.

For example, an amount of say Rs 1.5 lakhs for 2 years will be collected from each buyer as Corpus Fund and the interest earned on this fund will be utilized for payments to the Facilities Management company. Many mid-size builders collect funds to manage the maintenance fund till the society is formed. The Builder shall transfer the corpus fund to the Association after its formation.

corpus can be utilised for development of swimming pool , children play area , sports area after obtaining prioe consent of members in AGM

2)you can increase corpus amount after obtaining approval of members

complain to returning officer regarding refusal of MC members to take action against fraudulent voting in elections to MC

2) enclose copy of complaint to registrar for necessary action

You may take the matter with the registrar of societies against the election and formation of Management Committee and request for the investigation in this regard in case there is any problem you can file a PIL in High Court.

Know about the collection and use of the Corpus the resident welfare Association in the General Meeting of its member can propose collection and use of Corpus for development purpose and also proposed to make compulsory for all the residents members to be compulsorily be member of resident welfare Association on payment of requisite application fee if approved by AGM the resident welfare Association main use the funds for the development process.

is there any registered, if yes, through resolution u can with the AGM approval

a) Is there any restriction for increasing corpus, i.e.., amount & duration.

No it is a matter to be decided in the meeting of the association.

b) we have no childrens play area, swimming pool, sports area etc.

c) can corpus be utilized for the above developments, if no then how can we develop our colony, because there is no other income for the colony except to be members paying corpus.

No play area can be developed out of the corpus funds.

This fund is meant for specific purpose of the maintenance of the buildings and common areas.

But the President is deliberately not taking any decision, because his close friend will loose.Kindly help us in this matter.

Thank you

If you suspect any fraud in this you may write to the association about this and instruct to initiate legal steps to solve this issue.

If there is no positive result then you may approach cooperative court and also initiate appropriate action as per law.