Should cooperative society refund construction money with interest to members?
This concerns a cooperative society where individual members contributed money for construction. The building is completed and handed over, and some members are now residing there. The cooperative society is also charging separate monthly maintenance fees. However, the fixed construction funds have remained with the cooperative society for several years. My question is whether all individual members should receive a refund of the construction money, along with interest, since the amount was intended for construction, not for maintenance?
The cooperative society may be legally required to refund the construction funds if they were collected for construction purposes and not used for maintenance. You can approach the society's management for clarification and, if needed, file a complaint with the consumer court to seek a refund, including interest. Legal consultation will help in pursuing this claim effectively. For further legal assistance contact us on our helpline number.
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