5th March EGM Report

Record of Proceedings Extraordinary General Body Meeting 5th March 2017

50 residents participated in the event and the following matters were discussed.

1. The Secretary explained that FOMPL, a private limited company wholly owned by the builder is the legal entity collecting maintenance charges and is responsible for the maintenance of the complex. FOAOA, an association of residents has co-signing authority on all expenditure made from Federal Bank account of FOMPL and hence has a partial overview of finances.
2. The President presented a rough overview of income and expenditure as visible to the FOAOA. This revealed an alarming shortfall of nearly Rs 6 - 7 lakhs per month. Unless this gap is bridged we are looking at a collapse of maintenance and  housekeeping services. It was proposed that maintenance charges -- that have not changed for the past 6 years -- be enhanced by Re 1 / sqft and a penalty 18% pa be charged for non-payment of maintenance fees from 1 April 2017. A resolution to this effect will be placed before the General Body at the next AGM and unless this is approved we are looking at the termination of core services within the complex.
3. It was announced that FOAOA is planning to install accounting software to monitor flow of cash and track defaulters. Current data is rarely shared by the vendor and hence it is very difficult to track payments. New software is expected to be operational by 1st April 2017
4. The FOAOA can formally take over the management of the complex under the WB Apartment Owners Act if and only if we have more than 50% residents as members of the association. We are still 40 members short. The FOAOA requests every member to convince his or her friends and neighbours to join the FOAOA by sending a copy of the registration deed OR possession letter along with a cheque of Rs 2000 ( 1000 for admission fees and 1000 towards legal charges ) along with the membership form that is available on the website. This is of critical importance
5. Lawlessness by residents is reaching alarming proportions as many residents and owners are refusing to comply with the basic house rules. From feeding of dogs in the complex, carrying out fit-out work outside permissible hours, parking at random locations, flouting club and banquet rules to throwing garbage and rubbish out of balconies, the list is long and terrifying. What is worse is that any attempt to control this errant behaviour, particularly the behaviour of children, by our staff is met not just by deliberate and brazen defiance but by violent and abusive behaviour towards our staff, including physical assault. Unless residents agree to a basic minimum of house rules, this complex will become as unpleasant to live in as the bustee outside.
6. The FOAOA will shortly be announcing the dates of the AGM and elections for the next committee. Kindly take the trouble to file your nomination and join the committee. Unless you take part in the maintenance of the complex, your own investment in this property will be drastically eroded.