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Saurabh Goyal   30 August 2016

Refund of token money

We paid a token money of Rs. 1 Lac to a seller for sale of his flat. The bayana was decided to be done in next 2-3 days and full and final payment in 30 days. Now, my mother and wife are not finding the flat suitable to our requirement and we want seller to refund booking amount of Rs. 100000/-.

But he is not refunding the said amount? 

As per receipt that we got from seller for Rs. 1 Lacs, nothing was mentioned what will happen if deal is cancelled.



Learning

 3 Replies


(Guest)

In practice token money is not refunded.

Kumar Doab (FIN)     30 August 2016

Nothng about refund is mentioned.

Resolve amicably.

If not possible, Check with your own counsel.

 

saravanan s (legal advisor)     30 August 2016

Since you have the receipt for the amount you can file a recovery suit to recover the money

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