Money issue
Kapil
(Querist) 21 November 2016
This query is : Resolved
I have taken a home loan and my house is in under construction and till now I have deposited total ₹13 lacs in my contractor's account in three parts .Last transaction was of ₹5 lacs which I have paid through cheque and it is already cleared. But unfortunately after one week the contractor is dead due to stomach tumor.
As his brother tell me that he doesn't mentioned any nominee in his bank account detail. His wife is already dead way back and he don't have any children. So no one his heir.
So please tell me that is there any legal process due to which I can get back my last transaction of ₹5 lacs and if not then how all those material suppliers, labour etc will get that money.
Sankaranarayanan
(Expert) 21 November 2016
Is it any agreement made with your contractor? Better you approach a local lawyer and show all the evidence of records and documents in related to this issue and act accordingly
Kumar Doab
(Expert) 21 November 2016
The bank shall pay to legal heirs/successors until or unless there is court order.
Hope you have some signed agreement.
If yes, draw the amounts standing towards you and relate with amounts paid.
The family/legal heirs may agree to pay amicably and you may agree and issue receipt and NO Dues.
The recovery from estate thru litigation may take time.
Of course you may show all record etc to your own able local counsel.
Rajendra K Goyal
(Expert) 22 November 2016
You can not get back your amount direct from Bank.
Refer the terms of contract agreement with the contractor.
If the agreed construction was not completed, contract was not fulfilled, file suite for recovery of your amount from his Bank account. It may take time and litigation expenses.
Discuss with your lawyer.
Kumar Doab
(Expert) 22 November 2016
In my my first post from;
"If yes, draw the amounts standing towards you and relate with amounts paid.
"
I mean;
"If yes, draw list of the amounts standing towards you and relate with amounts paid.
"
Thus conclude:
if you are to pay any amount or not?
if you are to collect any amount or not?
Rajendra K Goyal
(Expert) 22 November 2016
Whether the money was paid as advance / excess to what was payable?
Of how much work has been completed?
H.M.Patnaik
(Expert) 22 November 2016
If there is any agmt. between you and the Contractor, pl. find the salient provisions regarding recovery of amounts due to you etc..
The deceased contractors account balance will only be payable to his nominee/ legal heirs by the bank.
You have to give notice to such nominee/legal heir for recovering your dues of meeting cost of const'n materials purchased on credit for your work.Pl. consult an experienced local lawyer to go ahead in the matter.
Rajendra K Goyal
(Expert) 26 November 2016
Author has not responded to the points raised by the experts in the thread!
Kumar Doab
(Expert) 26 November 2016
Author should respond.
