Dear Cleint,

21% interest rate is arbitrary,nationalized standard interest rate will prevail that may be 6 % to 12 % and you have not delayed in clearing dues ,hence, no Interest payable at your end. Complain to registrar.

If as per bye laws interest can be charged at 12 per cent society cannot recover interest at 21 per cent 

2) refuse to pay 21 per cent interest 

3) let society take recovery proceedings against you 

If the secretary says that interest is levied as per the bye-laws then request him to give you a copy of the bye laws and show the relevant provision in the bye laws where society is permitted to levy 21% interest on arrears

1. Interest can be charged upto a max of 21% per annum on outstanding amount, provided the society has intimated the due date and the penalty interest rate to be applied in its maintenance bill.

2. Outstanding amount and interest applied should be shown separately in the maintenance bill.

3. Interest is to be applied on simple interest basis on outstanding amount. Payments made must be adjusted against outstanding amount while computing interest.

4. Members can demand to go thru the society accounts at any time. No need for RTI. If the society refuses, then you can write to dy Registrar Co-operative Societeies with a copy to Society office.

5. Better to avoid legal route for these issues. 

Hello,

You may approach the registrar of the societies and raise your grievance.

Send a written notice to the society for the same. 

Regards  

Secretary is asking correct interest rate just check whether he is charging simple or compound interest. As per byelaws society can charge maximum 21% simple interest p.a. on pending maintenance amount. 

This amount you should have recovered from seller of the flat.

1. You shall have to pay the dues of the earlier owner.

2. the interest rate charged by the Society is high and unreasonable unlerss it has added penal interest also.

3. You can appeal to the Registrar and thereafter approach the High Court but the amount to be paid by you for the said legal steps will be much higher that the amount extra charged by the Society.

4. it will be prudent on your part to pay the said amount.

Dear Sir,

You must claim such arrears from previous owner by filing suit for recovery after paying the amount to the society.  It is bounden duty of every seller of the property to sell the property without any financial encumbrance thereon.

You can challenge the bye laws as it is exorbitant interest rate. Actually, the due to be collected from previous owner only not from you. You Pay the amount for the period after you have taken over the property.  

The interest may have to be paid as per the rates as mentioned in the bye laws.

The bye laws cannot be relaxed for any individual and  it is common for all.

Hence you first ascertain if it is the same as mentioned in the bye laws and then decide  about proceeding in the right direction.

See if in bye laws 21 percent is there you need to pay at same rate further you can request society for copy of bye laws further 21 percent is arbitrary complaint before the registrar of society.or further let society file appeal for recovery.

The interest rate is decided by the AGM of the society to be charged for defaulters in case it is already passed as resolution then you have to pay and you have no excuse

1. There is no remedy. Flat purchased in Auction Sale is alongwith the existing Liabilities and Assets. All Society outstanding dues will have to be paid, since the dues pertain to the relevant Flat and not to any individual.

Keep Smiling .... Hemant Agarwal

They can't demand you interest of previous owner. File a Complaint with Dy Registrar