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advocate (prop)     13 May 2012

Token money

i had taken a token sum of rs 50 k in aug 2011 for my flat in punjab.in the contract it was clearly mentioned that the flat is hp with a nbfc and further has to make a part payment of rs 1 l in my sb ac the no of which was clearly mentioned .further the contract stated that if the buyer failed to dep the said part payment of rs 1 l in my ac latest by 10 sept 2011 the contract shall end and the token amt forefited.however the buyer deposited just 49 k in my said a/c and that also on 13sept by cash.the contract clearly mentioned the date of part payment latest by 10 sept and further the whole deal was supposed to be closed by 30 sept 2011 as per contract.till date i have sent atleast 7 to 8 sms to buyers and a speed post which was undelivered as the address mentioned in contract by the buyer was wrong.however to safeguard myself i sent many sms for the closed deal in sept itself before 30 sept  and after 10 sept as he didnot deposit the part payment by 10 sept.moreover till date he keeps threatning me to execute the deal and when i tell him that it was clearly mentioned in the contract in writing tghe deadline for depositing the part payment by 10 sept as i had taken a loan from nbfc and the total os in my loan a/c in sept was around 1.3 l he insist that the contract is valid till 3 yrs though in writing it wasmade clear about the deadline date for part payment.the total deal was struck at 3.55 l.by no means i want to sell by flat to this guy who even gave a WRONG ADDRESS IN THE CONTRACT.CAN I SELL TO SOMEONE ELSE WITHOUT ANY HICCUPS?I AM READY TORETURNHIS 49K WHICH HE DEPOSITED IN MY SB A/C WITHOUT ASKING ME AFTER THE DEADLINE DATE PROVIDED HE TALKS SENSE.FURTHER HE DOES NOT HAVE ANY PROOF THAT I TOLD HIM TO DEPOSIT 49K IN MY ACCOUNT AFTER DUE DATE.ALL THE THINGS I HAVE MENTIONED R INKED



Learning

 2 Replies

V R SHROFF (Sr. ADVOCATE Bombay High Court Mob: 9892432152)     15 May 2012

sell to another party, forefeight  his amt. 

S Jadhav 98336 98330 (Jadhav & Associates)     16 May 2012

Please go ahead adn sell it if you wish. There is no problem and do not sell at a lower prices thinking that your property has an issue. There is no issue and you can forfiet the amount if it is a small part of the total value say about 5 to 15 % (You have not mentioned the total value of the transaction.

S Jadhav


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