I sold a flat under the housing society in July 2011. To issue the NOC at that time, society asked for a deposit of Rs. 100000.00 (Rupess (One lakh) for any pending dues towards my flat since the builder had not settled the full accounts with the society and the hand over from the builder was not complete when it was formed.
The society urged that the amount would be returned to me in 3-4 months by deducting any dues when the final settlement is done with the builder. I paid the amount through cheque along with a letter in this effect.
It seems there is a delay in the settlement between builder and the society and my money is stuck. Its already more than 9 months.
I have repeatedly requested the society to return my money but they say that the settlement with the builder is not over and that the issue can be settled through the society AGM resolution which never seems to take place or raise the iussue.
I have already written to the society 2 months back. The flat is already sold and transferred to the buyer.
My question is:
1. Can the society hold on to my money without any interest for such a long period?
2. Is it legally correct to take the deposit from the seller?
3. Will I have to wait indefinitely till the matter between the builder and the society is settled? And what is the solution for me.
Pls guide.
