Our co.op.hsg.soc. in Mumbai needs to get a lift replaced. Where should we be using the funds for this purpose? Would it be from the reserve fund or only by making the members contribute towards this? Please advise.


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Answered on November 09, 2017
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  • Since it is a major repair fund, sinking fund can be utilized for the same. Deficit, if any can be fulfilled by utilizing reserve funds and/ or asking members to contribute for the same
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