ਆਪਣੀ ਜਾਣਕਾਰੀ ਭਰੋ

SETTLEMENT OF ARREARS AGREEMENT

Agreement date: __________

Society: __________, registration __________, __________. Member: __________, member no. __________, __________, unit __________.

SETTLEMENT ACCOUNT

PAYMENT SCHEDULE

INTEREST AND DEFAULT

PROCEEDINGS AND FUTURE DUES

RECORD PARTICULARS

Which jurisdiction applies? __________

What society/property record identifies the unit? __________

What committee/general-body resolution supports the action? __________

SETTLEMENT ACCOUNTING

Every payment under the settlement should carry the settlement reference and be credited on its actual date. The society should maintain a running statement showing the original admitted amount, payments, any conditional concession and the unpaid balance.

CONCESSION FINALITY

A waiver that is conditional on complete performance becomes final only when the stated condition is satisfied. If the schedule fails, the fallback should credit every payment already made and revive only the lawful unpaid balance described by the agreement, not an invented penalty.

LEGAL BASIS

Punjab: The Punjab Co-operative Societies Act, 1961 governs this settlement of arrears agreement. Section 55 provides the Registrar reference route for qualifying disputes touching the constitution, management or business of the society. The first society action is taken by the managing committee or general body under the registered bye-laws; the Registrar of Cooperative Societies, Punjab receives a statutory reference when section 55 applies. There is no statutory appeal from the private settlement itself; any challenge or enforcement proceeds through the applicable pending statutory forum or contractual remedy.

Chandigarh: The Punjab Co-operative Societies Act, 1961 and Punjab Co-operative Societies Rules, 1963 apply to cooperative societies in UT Chandigarh. Section 55 provides the equivalent Registrar dispute route, administered locally by the Registrar of Cooperative Societies, UT Chandigarh. The current filing fee and period for the precise section 55 filing in this document were not confirmed from the sources used. There is no statutory appeal from the private settlement itself; any challenge or enforcement proceeds through the applicable pending statutory forum or contractual remedy.

PERSONAL DATA NOTICE

This notice is given under the Digital Personal Data Protection Act, 2023.

The purpose of collecting personal data in this settlement of arrears agreement is to identify the member, unit and society record needed to administer the stated maintenance, default, recovery or dispute action.

If the matter does not proceed, the personal data will be retained for 90 days and then erased. If the matter proceeds, the record will be retained for the matter plus 12 months, except where a statute requires a longer named retention period.

Data minimisation: this document does not collect a full Aadhaar number, an Aadhaar-card copy, a password or bank credentials.

SIGNATURE