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Abhash   29 December 2016

Need information

Hi,

I have booked the flat in bangalore and shifted to the flat but all the works not completed. Now, builder has lot of problem and they became bankrupt and not in position to do any work. We talked to the builder and he asked us to take up all the work and get the money whoever has pending amount to complete the work. They are ready to give all the NOC but we are not sure what kind of letter we should give them so we shouldn't be in any legal trouble at later stage. We have registered the society and open the society bank account to do the transaction. Any help would be highly appreciated.



Learning

 3 Replies

Kumar Doab (FIN)     29 December 2016

If the builder is willing to pay the money to get balance work completed; collect ASAP. 

 

It is although surprising that on one hand builder is bankrupt and on the other hand he is willing to pay for balance work.

Abhash   29 December 2016

No, builder is not going to pay anything. We have to collect the money from the flat owner whoever has pending amount.

Kumar Doab (FIN)     29 December 2016

Join hands and approach a very able counsel at your location ASAP.

Try and find out assets of the builder.

If builder has declraed bankruptsy only verbally, act fast.

Or you may have to join list of creditors.

 


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