Hi, First you have to issue a legal notice ask them to pay the amount with interest and if they fail to pay the amount then you have to file a complaint in the consumer forum for deficiency of service and also for repayment of the amount with interest.

1) cancel the agreement as no construction has been carried out till date

2) on cancellation collect the PDC cheques from the builder .

3) accept the interest rate of 18%offered by builder .

4) in the event cheques are dishonoured on presentation file cheque bouncing case and file complaint before consumer forum and seek refund , interest , compensation from builder

If you have signed up with M/s Dreamz Infra Ltd., then it is a bogus, sham company cheating gullible customers like you, many criminal cases have been filed against the company for cheque bounce U/s 138 of N.I.Act. My office has filed many criminal cases against them, in some cases the company has cleared the outstanding amounts after several delay but with interest and compound interest.

Write to the company informing them that you wish to cancel the booking and seek for refund due to inadvertent delay from their side in handing over the project as was agreed to by them in the MOU.

They will issue PDC for the amount of Rs.22.00 lacs paid by you, eventually they will inform you to deposit the cheques 3 or 4 months from now, as they do not have liquid cash. collect the cheques and wait and then deposit the cheques and later on file cases so you can recover the entire amounts from them.

1. The MOU is being misinterpreted by them. You gave them too long a rope. Either they should issue the PDC immediately on cancellation or the interest should cover the 90 day period as well in case they are to issue it after the expiry of 90 days.

2. You should issue a lawyer's notice to the builder seeking the refund of amount with compensation for delay. If the builder refuses to accede to your demand (which is most likely) then filing a lawsuit is the only remedy.

1. File a complaint case before your local District Consumer Dispute Redressal Forum alleging deficiency in service and unfair business practice claiming immediate refund of the amount pad by you with interest, damage and cost,

2. Engage a local lawyer having expertise in handling cases before Consumer Fora.

A. Some builders are doing these type of business in Bangalore city because of obtain money for their necessity and neither they will start construction nor handover the possession in time and refund the money. In such being, they are pondering over if the customer approached the court that the builder will pay interest amount by refunding entire amount.

B. Issue a legal notice to the builder to refund the money with an interest by 15 days from the date on notice served.

C. Thereafter, if you unable to get prompt response from the builder that you can approach the Consumer Forum under the deficiency in the service and unfair trade practice and claim damages for breach of contract and refund the entire amount with an interest and claim separate compenstation for mental agony.

In the given scenario, you may first cancel the booking quoting the inordinate delay in starting the construction work and better accept the PDC get them encashed, after that you may issue legal notice demanding interest as well as compensation for the mental agony you suffered due to the company's irresponsible attitude and deficiency of service and subsequently, if need be, you may drag the builder to consumer forum seeking redressal to your grievance against him.

1) commitment letter issued by builder to pay 18%pa would be binding upon the builder

2) file complaint before consumer forum . you save on court fees

3) if cheque bounces you have to file cheque bouncing case against builder under section 138 Ni

4) police may not intervene as they will direct you to file complaint under section 138 NI

If you have to receive back the money from Dreamz then it will take upto 6 months because they have to return the money to many customers, but since they have agreed to repay it with interest @ 18%.

Firstly seek for cancellation and then after they hand over the PDC cheques to you deposit it and after it bounces you will have to issue a legal notice U/s 138 of NI Act giving them 15 days to repay the amount on the dishonoured cheque, failing which you will have to file a PCR at the magistrate court, bangalore.

* What is the maximum days our law allows these builders to refund entire amount along with interest. They issued commitment letter which says that they will pay 18% interest in case they fail to give possession within 23 months.

So their commitment is very clear that you may have to wait for their 23 months time schedule to initiate any legal action against them if they fail to keep up their promise/commitment. The question of involved law in this will arise only after you have initiated the legal process.

Is this letter valid in the court of law, or do our courts enforce RBI interest rate structure?.

If he has committed in writing, this will be an evidence against him if you start legal process.

Courts are not automatic machine to enforce any law without the affected party seeking relief as per the existing law.

Should we file case in consumer forum or civil court. which court gives optimum results in this regard.

You can claim relief through either of the court but for a speedy disposal consumer forum will be having a proper reply/response.

Can we take a help of local police, if this cheque bounces. will they support us for getting DD from them.

This being a civil matter the police may not interfere in this issue hence follow the legal process through court itself.

Hi, based on the letter you can approach consumer court for claiming amount with interest.

2. It is better you can file a complaint in the consumer itself

1. You claim the interest at the rate which the builder has assured to pay,

2. The letter/agreement is a valid document acceptable before Court of Law,

3. File before Consumer Forum which has been formed to hear such cases. Cases filed before the Consumer Forum will be disposed of much faster (1 to 1 & 1/2 years)than Civil Court,

4. If the cheque bounces then police will not interfere at all in getting DD. You shall have to file a cheque bouncing case u/s138 of N.I. Act.

1. There is no time limit prescribed by the law to refund the amount as this boils down to the clause, if any, to this effect in the contract. If the time limit has been laid in the agreement then it is sacrosanct. They are bound to pay the interest which they have agreed to.

2. Police has no role in cheque bounce cases.You have to engage your own lawyer as it is a breach of private right.

Dear Mahesh Sir, you have every right to cancel the pre-launch flat as per MOU, and also you have every right to get back your amount with 18% interest till realisation....before going to file the case against the said builder/developer you have to issued a legal notice to them for claiming the same, if they failed to do so, you have to file the petition before District Consumer Forum for claiming the same. If you have to file the civil suit for recovery of money by cancelling the said pre-luanch flat, you have to pay the court fees on the claim amount, it will be very high on you, you have to go better to file petition before the district consumer forum. If you want my legal service I will do it.