Relief from Impound Penalty
I got into an Agreement for Sale in February 2015.
The Total Consideration payable was Rupees 1 crore and I paid an advance of Rupees 20L.
The balance amount of the 80L was payable at the time of registration and execution of Conveyance.
Ever since I have always been ready and willing to pay the balance amount (a letter of which was sent to the Vendors) to get the property registered in my name but the Vendors have been reluctant to transfer the title in our favour.
They wrote to us in March 2016 saying that they intend to return the money.
It has been over a year since and neither have they returned the money nor have they executed Conveyance till date.
I filed a suit against the Vendors and Court gave us an order of injunction and now we are going to trial.
I was concerned about the Impound Penalty clause and wanted to know how do I pray for relief from Impound Penalty as I have not been at fault because all this while the Vendors have been delaying registration and Execution of Conveyance.
I have enough evidence to prove my stand and case.
I am writing to request if there is a Case Study or an Order that you could suggest for my convenience to get Relief from Impound Penalty and also to expedite the matter.
Thanks and regards.