Flat buyers' woes continue

Flat buyers' woes continue

It was long felt that a special law was required to regulate the activities of builders and Pro builder Resident Welfare Associations, for the purpose of protecting the interests of buyers of Flats. The Tamilnadu Apartment owners Act 1994 is one such Act passed under Central Govt. guidelines. The rules under the same were announced in 1997 only.
Though the Act came into effect from 1997 most of the builders see that the newly formed Resident welfare Associations are registered only under Tamilnadu Registration of Societies Act 1975 even after 20years of the new Law, on purpose of circumventing the Flat owner-friendly provisions of TN Apartment owners Act 1994.
On referring the matter to the Department concerned, The Registration Dept.T.N. it is understood that no specific guidelines have been framed and communicated yet to the Nodal /Regulatory Authority, The District Registrars. Another lacuna is that the Regulatory Authorities are not empowered adequately to ensure effective implementation of the TN Apartment owners Act 1994 at the ground level.
Generally, the District Registrars offices are not very keen to verify whether adequate references to the applicable Acts such as Societies Act or TN Apartment owners Act 1994 are made in the sale deed itself or also not empowered adequately to enforce them. Similarly, no screening of the bye-laws or amendments to ensure that they do not conflict with any other law, are done. Consequently, the mention of the relevant provisions of law or reference to them does not find places in relevant documents. They are conspicuous by their omissions wherever needed. This leaves many things open to convenient interpretations mostly against the gullible members and many a time public are pushed to courts to get remedy. Though our Central Government enact many good laws to protect the common man from any kind of exploitations , the fruits of such laws practically do not reach because of poor implementations by the authorities concerned or dilution in its path to common man.
I appeal to the Departments concerned who are also participants to take note of these practical hurdles in implementations and frame necessary guidelines to reverse the current trend. The Registration Depts may be given the necessary push and empowerment to enforce The Tamilnadu Apartment owners Act 1994 and rules 1997 in letter and spirit.
Regards
K.Loganathan more  

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No Corporate/ Municipal taxes till the Installments are paid by adding it to Installment. more  
IN MY OPINION THIS IS A STATE MATTER AND HAS TO BE ACTED UPON BY THE STATE - FILE A PIL SO THAT THE STATE IS ORDERED TO ACT ON THE SUGGESTIONS/MODEL CODE ISSUED BY THE CENTRE. NO STATE IS WILLING TO TAKE THE RESPONSIBILITY BUT CREDIT IS THEIRS more  
This Act is a hoax. If you can find out the compliance of this and such acts, you will be shocked.

I can vouch for the MCS Act and its compliance. I am of the firm opinion that this Act should be scrapped or atleast the Governing Body of the society should be liable to prosecution without the sanction of the Dy. Registrar. The present law makes the General Body supreme and the Registrar has a total bias towards the Managing Committee.

You bring in RERA or MAHARERA to regulate the industry. The builders and committees of the societies will wriggle out of a tight situation with the connivance of the authorities.

The flat owners will always be left high and dry.

The relevant provisions of the MCS Act are as under:
Section 73(1AB) The members of the committee shall be jointly and severally responsible for the decisions taken by the committee during its term relating to the business of the society. The members of the committee shall be jointly and severally responsible for all the acts and omissions detrimental to the interest of the society. Every such member shall execute a bond to that effect within fifteen days of his assuming the office, in the form as specified by the State Government by general or special order. The member who fails to execute such bond within the specified period shall be demand to have vacated his office as a member of the committee.

This being the case, why should the government authority be involved in this process? The police is also another government authority to look into frauds. However, the complaint with the police is only permitted with the permission of the Registrar. The Registrar will never permit prosecution.

Let the Govt./anyone come out with the stats of prosecution of the managing committees. The truth will be out.

And the cruel joke is that the Association of the Societies has also been recently involved in adjudication. This Association will never be represented for any adjudications. However, the socities are supposed to contribute to the Association. more  
Real Estate and some Manufacturing , largely the Businessmen and Contractors ARE STILL NOT PROPERLY REGULATED BY MAJORITY STATES .
Failure of Law and Order , Tax depts and ACB together with the UNCAPPED CASH TRANSACTIONS resultant to RESTRICTION OF AADHAR LINKAGE TO ALL FINANCIAL A/CS / BANKS BY Supreme Court IS THE ROOT CAUSE OF ALL FISCAL FRAUDS AND CHEATING .
We must move H'ble SUPREME COURT TO REVIEW AND DIRECT LINKAGE OF Aadhar Card to Banks Accounts , All sorts of Fiscal Transactions above Two Thousands , VOTER LIST AND PHONES AT THE INTEREST OF PUBLIC AND NATIONAL ECONOMY . more  
Since '95 IT , Company Law were diluted in opted well Relaxed FDI , Converted Audit System , IT Assessment to lottery base setting aside true and accurate Practice of Finding Faults, Malpractices, Misappropriations WHILE THE MANDATES OF BANK THROUGH TRANSACTIONS OF R. 20,000/- above And seaside the operation of Law and Order , Enforcement of IPC .

This is 2020 . Above 20 Years patting of Malafied Business Practices . Banks in deed were Misused during this period by the Backing Politicians .
RBI GOVERNOR SRI RAGHURAMA RAJAN IN HIS REPORT TO PARLIAMENT SELECT COMMITTEE Reported that Neglect misuse by Financial Institutions resulted in INCREASING NPA FROM THE PERIOD BETWEEN 2006 - 2008 .

The identified NPA s in the period till now , ARE THE RESULTED OUTBURST OF " NEGLECT , MISUSE , MISAPPROPRIATIONS , CONCEALED FROM TIME TO TIME GUARDED UNDER THE RELAXATIONS , DILUTIONS planted Well Planned by Political Rule .
THIS IS WHY REFORMATORY REGULATIONS ARE MUST IN ALL THE SECTORS ABOVE INVOLVED . more  
Mr. Sarma, that works only if other things are in good place. For e.g. for last two days people who have their salary accounts, savings account or even current accounts have no idea where to turn to. To add to the ridiculiousness, even after Mr. Rana sold all his shares in the bank, the bank was being told to be a steal at INR 65/- today the rate is at INR 15/- which too is thought to be propped up. People who have EMI payments and all sorts of daily needs are suffering. And mind you, this is when our FM gave a press conference saying that since 2017 RBI had been 'closely' monitoring the situation . How RBI let it become such a huge issue is a question in itself. From 45,000 crore to bad debts to quarter million crore of bad debt and this is from 2014-2020 . Especially in last financial year when loans of Rupees INR 1,00,000 crore were given which is equal to the last 18 years the bank was in operation.

What you are saying is a massive undertaking and bound to fail, what we need is a responsive govt. which can plug such massive leaks as shared by me. Till that doesn't happen, we will see more banks go bad. more  
If law enforcing authorities strictly enforce the available law and remain vigilant over the violations made by the builders 99 percent of flat owner's problem will be solved. In this field politicians who rule the states are very weak and corrupt. Nothing is seen in the near future. more  
Not just States, even the center is equally responsible. Right from center-state relationships been as fraught as anytime. No guidance or dialog to the states from center, nor funds disbursal. More so, if it's manufacturing states like Maharashtra or Karnataka or even TN. And doesn't matter if politically they are friends or foes of each other. more  
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