Refund of magin money deposited with builder
k.k.jandial
(Querist) 26 August 2009
This query is : Resolved
Hi Sirs,
My son booked a flat with a builder &deposited 5% margin money about a year back. Obligation of the builder was to assit in arraging 80% loan from banks with which it tied up,procure N.O.C. from a bank from which it took loan against the const. site, buid the flat and give its possession with in36 months. buider did not fulfill any of its obligation.& my son is in tocuch with the co. via e-mais and international calls being N. R.I.
My querry is that whether in the legal notice for refund of margin money to the builder ,all the e-mails may be re-produced or only passing reference may be given. Kindly advise and oblidge. thnk u all in advance,
K.K.Jandial
A V Vishal
(Expert) 26 August 2009
Yes, based on the correspondence with the company you can ask the builder to refund the margin money, however take note the clauses of agreement entered will have a pivotal role in deciding the case, hence, you need to contact a advocate locally and proceed according to his advise.
