Regarding Leave and Licence Agreements in Maharastra state coop housing society

Can the managing committee of a housing society legally refuse to issue a NOC to an application from a registered member to enter into a leave and licence agreement, without having any legally valid reason, if the proposed licensee is of sound character and is a director of a construction company and has already met with the secretary who has found nothing objectionable. The building lies within the Salcette Society in Bandra West, Mumbai?

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