Apartment - Owners association - Validity of Bye-laws

I live in a Apartment complex in Bangalore. The Apartment Owners have formed an Owners Association and they run it as proper association with AGMs. Also they have bye-laws defined. Currently, the Owners Association is not registered with any governement body in Bangalore / Karnataka however they have submitted the DoD (deed of declaration) which is not complete. As per the bye-laws the association Secretary levies a penalty of 24% daily rate for those owners who dont pay the maintenance charges and sinking fund / reserve fund. My questions 1. Are the bye-laws valid / legal? Given the association is not registered? 2. Is it legal to charge such high rate of interest? given there maybe some genuine cases where the dwellers would have missed the intimation? 3. Is it not mandatory of the association to provide proper ontime reminders, demand notes periodically? In my case they sent reminders after one year of payment due... It would be great if the learned legal friends can help me... thanks