Legal Question in Construction Law in India
sinking fund
can amount from sinking fund can be utilized for building repairs like
leakage
Asked on 4/05/09, 3:45 am
2 Answers from Attorneys
Homi Maratha
N.N. Maratha & Co.-Advocates
Re: sinking fund
Query not clear.
Answered on 4/06/09, 5:48 am
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Re: sinking fund
Your statement is not complete. You may like to elaborate about whose 'sinking fund' are you mentioning and which buildings are to be repaired out of this fund?
If it is a Housing cooperative society, the funds of the Society are to be spent on the basis of Society's Bye-Laws, Resolutions passed by the A.G.M. or decisions taken by the Managing Committee.
Answered on 4/05/09, 9:23 am
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