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Meaning of clause in letter of the allotmnet

(Querist) 14 May 2012 This query is : Resolved 
If you fail to pay the agreed installments of the Sale Price on or before the respective due dates, a 7 (seven) days notice shall be given to you, within which you shall be required to pay the stipulated amount with interest @ 24% per annum. In the event, if you fail to make such payment, then this allotment letter shall stand terminated and the earnest money of Rs. 3,20,000/- (Rupees Thirty Two Lakhs Twenty Thousand Only), as referred in clause 3.A.(i) hereinabove shall stand forfeited and you shall be liable to reimburse the expenses incurred by us.
Shonee Kapoor (Expert) 14 May 2012
What is the query?

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com
Shonee Kapoor (Expert) 14 May 2012
You would forfeit the amount deposited.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com


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