Apply to court for permission to stop emi and refund of money already paid.

Your should file a petition with the NCLT against the Builder seeking refund of the entire amount paid by you along with compensation and interest.

Alternatively, you can also prefer a complaint before consumer court or RERA.

If you fail to pay the EMIs to the bank, it will definitely effective CIBIL score as well as bank will initiate recovery proceedings against you. The faults of the Builder cannot be attributed upon the bank.

Best option for you is to get your money through nclt as that is a quicker Remedy, where cases are tried in a time bound manner. Simultaneously, should not stopping the EMI to the bank.

1st approach lawyer and give legal notice to builder in which you inform in advance, since construction stopped, you are opting to stop EMI.

Then visit Bank and give them ( legal letter)

after that file case in consumer forum where you'll same time, money

You have the option to approach either RERA or NCLT in the present matter.

Make your bank also a party to the above cases, in case this Bank had separately lent construction finance for this construction.

In terms of sec. 18 and 19(4), you may claim your refund from the builder as a matter of right since the builder has defaulted in handing over the possession of your flat on time.

Sir you have to file a cheating case against the builder along with if the builder is company then in that situation file an insolvency petition against the builder. or a recovery suit has to be filed in civil suit.

Further you cannot stop paying the EMI as the emi amount and your amount has to be recovered from the builder you can not default the payment from the bank,

You cannot stop paying EMI of loan advanced by bank

2) if builder has failed to deliver possession and has absconded then file police complaint against builder under section 406,420 of IPC for cheating , criminal breach of trust

3) file complaint against builder before RETA seek orders to direct builder to deliver your flat within stipulated period

1. If you do not wish to damage your CIBIL score then you must continue to pay the EMI .

2. However since you are not getting the property then you can file a case before the consumer forum wherein you can seek full refund along with interest, damages and compensation.

3. The case before the consumer forum may take some time but you will certainly get what you are seeking.

The high court will not stop the EMI however you have option to file a case in consumer forum or state consumer dispute redressal Commission as the value if it is more than 20 lacs to claim the compensation legal charges on the flight you booked which is not delivered you may request for immediate relief.

1. CIBIL is a body which has been given permission by all its member Banks to access their account statements maintained in their respective servers.

2. So, CIBIL does not rate any holder by itself but just reflects the status as mentioned in the accounts statement maintained by the lending Bank.

3. For altering the CIBIL score, you shall have to make change in your accounts statement and ensure that it does not become NPA.

4. You should first lodge a police complaint against the builder and then can file a Writ Petition before the High Court against police inaction making the bank as another party for approving the loan after conducting thorough search about the project and also should make the builder the private party.

5. Though it is a difficult task to shrug of your responsibility to repay the loan taken by you, you can try to involve the bank alleging that it was in connivance with the builder to sanction and disburse such loan for the project which was never to be completed.

6. You shall have to obtain order from the Court for waiver of further payment and issue you 'no due certificate' for which your account shall not be declared as NPA and your CIBIL score will be alright.

1) You can ask to bank regarding taking possession of flat or land and by way of court intermediate to sell the property and recover banks money in this way you can save your cibil records. Let the bank knows all situations of builder and progress of building.

Hello,

I would advise you to pay the EMI and then approach the court and seek the refund.

If the builder has ran away then also the court can sell of his property to give you back the refund.

Also, there is no way that the court will allow you to not pay the EMI, for the reason that bank is not at fault and bank has the right to get money from you irrespective of the fact that whether the builder is making the property or not.

Regards

Not at all. File immediately a case before Consumer Court of the area to get the relief.

The ba

The bank may report about your default in EMI repayment of loan to CIBIL, this is routine.

The court cannot restrict the bank from doing so when they have this action justified and in accordance with the procedure laid down for this purpose.

However for the fear of adverse CIBIL report you cannot afford to bear further loss and damage.

You can decide about the next course of action judiciously.