Legal Question in Real Estate Law in India

Sinking Fund - Use
Does the model bye laws of the Co-operative Society Act, Mahrashtra, state the nature and the purpose for which the Sinking Fund of the society be used, if the bye-laws of the society are not clear. Would like clarity on the same as the society in question proposes to use the sinking fund for purposes such as plastering and water-proofing. The society bye-law states that the sinking fund be accumulated @ 0.25% of the profit and may cease when the fund reaches an amount required to replace the buildings of teh society. Please clarify.....

Asked on 3/17/09, 2:15 pm

Sudershan Goel India Law Offices of Sudershan Goel - Advocate

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Re: Sinking Fund - Use

The Bye-laws are framed only after approval from the Cooperative Department and therefore binding.

Answered on 3/17/09, 11:49 pm

Shrichand Nahar S.V.Nahar, Advocate

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Re: Sinking Fund - Use

What is the query, if bye-laws already provided for sinking fund?

Answered on 3/18/09, 12:50 am

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