Defaulter Member of society

Our 70 member society is facing a problems with one members who is so adamant and not paying dues from 1998 the total dues of the defaulter members dues is 12 lakhs approximately and this is causing a lot of distress to other members of the society..we are applying an interest of 9% simple interest per.annum on total arrears and still he is not bother to pay and it looks like he never wants to pay their dues. Can we take these actions A Levy Full Interest amount on delayed Payment or B Levy 50% Interest amount on delayed Payment or C Waive 100% interest amount as levied on delayed Payment D Majority decision is final decision E if None of the above option ABC is agreeable to both parties than 154B-29 3 Notice to be given and procedure to be started , so that society will get full amount This we will be discussion on Zoom and if he don’t attend zoom meeting than , what action can we take We have invited 1. Dy Registrar 2. Society lawyer 3. Society Chartered Account 4. Housing society federation 5. All Past and Present member of society Pl guide what is the best way