LOI amount refundable

Ankit khandelwal (Querist) 09 May 2017 This query is : Resolved
Hello..I need to ask whether LOI amount is refundable ? Actually I signed a LOI with a franshisor company to get there franchisee. The terms of the contract were agreed by both the parties and accordingly I paid him LOI amount, which by the way was written to be NON REFUNDABLE! But the company changed it agreed terms in the written contract, which was non acceptable or in favour of the franchisee? Now when I asked them for refund, they are stating that the amount is NON REFUNDABLE!!
Isn't this case of cheating? Franchisee had full intention of working, he paid Security for outlet and also got the trade license!
Please suggest what to do? Any way I can get my amount back!

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Kiran Kumar (Expert) 09 May 2017
If the company has changes the terms and conditions unilaterally then definitely the intent of company is not good.

You may proceed with both penal as well as civil action in order to bring the company to the terms.

Apparently the erring party is company, if they are violating the terms and conditions agreed earlier then definitely the company is not having any right upon the funds deposited earlier.

Kumar Doab (Expert) 09 May 2017

Show the LOI and said agreement sent to you to a very able local counsel specializing in such/civil matters for a considered opinion.