Overdue settlement by builder in joint venture
Hi All,
I would request your help on the below situation I am facing now:
My husband had an ancestral property in Villivakkam Chennai which was put under joint venture with one of the local builders in Sep 2013. From the overall area of 3253 sq ft, the builder developed 10 flats and one was retained by us and rest is payable to us in cash settlement Rs,1,02,00,000. The builder agreed to pay us in ten months but he didnt pay us even half of the money till 2015.Then we further moved and cancelled the power of attorney which we gave to him for the entire property. By that time, he had 4 flats in his hand to register. After that, he started settling money slowly for want of registrations. Now he has to pay us rs.20 lakhs for the last flat, for which he had obtained full money from the buyer and we allowed that buyer to take possession from Jan 2015 , as the builder was agreed to settle us in Mar 2015.
Till date he didnt settle us that money and when I am asking him for a written agreement to pay the overdue money, he is postponing it every day with some reason.
The buyer got possession without registration and he is not forcing builder. The builder got his money entirely and not paying us, the final loss being borne entirelyby us. the worst part is that he responds very carelessly now a days as If we have got money from him and he does not even give due respect while speaking, asking us to proceed with any action.
Can I take legal action against this builder ( his wife is the proprietor ) for the overdue settlement?
What could be the best possible way to teach him a proper lesson and at the same time , we will get our funds soon?
Asked 8 years ago in Property Law
Religion: Hindu