If the Builder is going bankrupt and is in jail you cannot receive your money how are you can file a money suit against the Builder and let the court decide it if any money can be recovered from the property of the Builder to pay back to you

You need to sue the company in court of law. The Lawsuit shall bring your claim on record. 

You need to put your claim before liquidator also.

Please engage a lawyer.

Rest consult me thru Kaanon.

Dear client 

If the bankruptcy proceeding have been started by court then you will get the proportionate amount of your investment in the project depending on number of investors and creditors of the projects started by cosmic Infrastructure. Once the liquidation process completes. But you will get the money after the payment of creditors and bank loan if any.

You can be on losing end but if you terminate the purchase agreement and claim your refund then you can be treated as creditor of the project.

You just have to be prepared with the investment proof like agreement and payment done by you. 

After appointment of liquidator the next step is submission of your claim to them.  You will get the same as all the claims will be settled by him.  As the builder and related people are behind bars you need for wait as no legal provision can help you get the resolution. 

The other option is to file a case in consumer commision if the total amount exceeds Rs 20 lacs including the interest clainc@ 24%, compensation and legal charges.

You may make directors as opposite pary to respond and there are chances that you can receive the awarded amount from the estate oestate of the directors.

I regret of Official Liquidator is appointed in respect of the properties of the company then it will take time and their is no guarantee when and how much you will get back.

Go and present your claim to the Official Liquidator in writing seeking cancellation of the agreement.

You can file a case before the consumer forum as well but considering the attachment of the property through Official Liquidator I wonder how effective the order of the fora would be while executing the same.

Good luck.

File Criminal complain, proof of payment you have as same done via cheque. You must be havign at least one such document or correspondence through it can be evident that you have booked the site and made payment for it.

Approach NCLT for insolvency process and also file intervention application in HC in liquidation proceeding.

This is my response to you:

1. If an OL has been appointed in the case, is it pending in HC or NCLT?

2. You will have to file an application in the ongoing case;

3. You will be treated as a creditor and all your dues will be paid therein;

4. Consult a local lawyer, discuss full facts and take steps.

You have to lodge your claim with official liquidator 

2) enclose copy of agreement fir sale 

3) proof of payment made by you to builder 

File claim with official liquidator HC 

Hello, 

You will have to gibe your claim along with all the documents to the official liquidator that has been appointed by the High Court. 

Regards 

Until recently, all the flat buyers in the project would not only risk losing their hard-earned savings but would also have to forgo the hefty interest paid on their home loans. This is because the builder's financial creditors would have first charge on his fixed assets, including properties under construction.

But the Center has now come to the rescue of such distraught home buyers, with President Ram Nath Kovind giving his approval in May, to the promulgation of an ordinance to the Insolvency and Bankruptcy code (IBC), 2018. Under this ordinance, flat owners will be treated as 'financial creditors', on a par banks and other financial institutions during debt recovery.

The ordinance is path-breaking in that the home buyer, as a financial creditor, can recover the money he paid to a bankrupt builder from the sale of its assets. This includes properties under construction, the builder's company and associated assets. 

You may have to contact the official liquidator  and get your name included in the list of creditors of the builder 

The latest law on this is certain that you will also be treated as a  financial creditor 

What's more, since a home buyer is a financial creditor, nobody can touch his property. Earlier, when a realty firm went bankrupt, the flats for which home buyers had paid advances would become the property of banks and other lenders. Often times, their property would be auctioned, even though there was no default on their part, since they were merely treated as consumers and did not have any say in the legal proceedings of a bankrupt real estate firm.

you can approach Consumer forum or RERA seek refund along with interest and compensation

I need perusal of the papers. please consult me thru kaanon.