• Property booking amount not refunding

Hi, we had paid an advance to book a plot in tamil nadu, however the builder dint come forward for registration of the site and neither is he refunding the advance paid. This has happened with multiple others and a criminal case against him and was taken into custody for 3 weeks. The builder was offered bail, and its been six months and now the chargesheet is being moved to court.
However in the interim the builder has dissolved the company and seems to have covered all his tracks. What is the best course of action to recover the money from the builder.
Asked 2 years ago in Property Law
Religion: Hindu

2 answers received in 1 hour.

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8 Answers

Send a legal notice to the builder to either refund the amount paid paid to him or register the property in your name.  Complain against the builder for deficiency of service in the District/State/National Consumer Forum, as the case may be. File a complaint against the builder to State RERA. File a Police Complaint against the builder in the jurisdictional Police Station.

Shashidhar S. Sastry
Advocate, Bangalore
5623 Answers
339 Consultations

File suit for specific performance to direct builder to execute registered sale deed in your favour 

 

2) if you want refund cancel your booking and seek refund 

 

3) if builder fails to pay sue builder to recover your money with interest 

Ajay Sethi
Advocate, Mumbai
99775 Answers
8145 Consultations

The best way is filing consumer court if the amount is more than 1 crore you can also approach IBC tribunal

Prashant Nayak
Advocate, Mumbai
34514 Answers
249 Consultations

File recovery suit.

Yogendra Singh Rajawat
Advocate, Jaipur
23079 Answers
31 Consultations

- As per law, the builder is bound to refund the entire amount with interest due his fault.

- You can send a legal notice to the said builder , and if no positive response , then file a complaint before the Consumer Forum for getting refund and to claim compensation for mental agony and harassment due to said fault of builder. 

Mohammed Shahzad
Advocate, Delhi
15814 Answers
242 Consultations

You issue a legal demand notice by communicating your decision to cancel the booking and demand refund of booking amount with interest from the date of payment alternately you can demand execution of sale deed and then follow it by filing a money recovery suit or suit for specific performance of contract.

Giving a criminal complaint against him for the acts of cheating will not fetch you the desired relief. 

T Kalaiselvan
Advocate, Vellore
89977 Answers
2492 Consultations

Dear Client,

 

I'm sorry to hear about the difficult situation you're facing. Recovering money from someone who has dissolved their company and appears to have covered their tracks can indeed be challenging. Gather all the documents related to the transaction, including the contract, payment receipts, and any correspondence with the builder. These documents will be crucial in building your case. Consider filing a civil lawsuit against the builder for breach of contract and failure to refund the advance payment. If you haven't already, ensure that there's a police complaint filed against the builder. Given the criminal case against them, this documentation can be important.

If the builder has dissolved the company, there might be a liquidation process underway. You can try to participate in this process to claim any assets that might be available for repayment to creditors. Keep track of any legal proceedings related to the builder or the dissolved company. Attend hearings if necessary and stay informed about any updates regarding your case.

You can reach out to us for further assistance

Anik Miu
Advocate, Bangalore
11014 Answers
125 Consultations

Send a legal Notice to the builder first and then, incase he doesn’t abides with the LN, approach the consumer court seeking refund 

Vibhanshu Srivastava
Advocate, Lucknow
9763 Answers
323 Consultations

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