LEGAL OPTIONS AGAINST A BUILDER

Purchased a virtual space in a commercial property Cosmic Corporate Park2, sector-140, Noida by Cosmic Group. As per agreement I was to receive 11% assured return with Bank guarantee through bank transfer or cheque till the offer of pssession. I received assured return for 2 years but since April 2015 they stopped paying and not giving any time/date by when they will resume payment. They are forcing everyone to convert assured return with additional space. As of now there is no sign of development at project construction site. They are also not giving refund. They always make false commitments. They say they do not have funds and are in contact with Bank and private financiers to back their project but there is no hope I guess as builder has done all these in a preplanned manner. Most of the customer already made full payment then where has our money gone??? Kindly help me getting my hard earned money back. Thanks more  

View all 25 comments Below 25 comments
Thanks Ravindran Ramath more  
First & Foremost - pl. avoid the misleading & Misconception Advised like "Consumer Court may not entertain the complaint as it was a commercial property which is outside the purview of consumer protection act." There is clear verdicts that commercial Property purchased for Livelihood comes under the jurisdiction of Consumer Act. Same is the case of "Legal option against your cases pending more than 3lakh." It is more advisable that you had already ventured and to get the remedy you have to adopt MULTIPLE options - subject to your capacity of Time, Money and efforts. Considering you desire to opt for the same - the remedies are : 1. Lodge the Criminal Complaint with EOW/Police. Mostly they will not lodge the same but against the acknowledgement of the same you can initiate Private Criminal Complaint in the Court. 2. Consumer Forum / Commission - Considering the value, interest, Return, losses etc. the total value exceeds Rs. 20 lacs - wherein you can approach to the State Commission so to save the time. I am sure there will be more victims like that of you - joining hands of couple of them will save lots of time, money and efforts - BUT more advisable - to lodge the Individual cases - to be lodged and pleaded jointly. 3. New Act is already enacted - wherein the relevant mechanism to be established. You can also file your complaint simultaneously. 4. Civil Remedy - which is time consuming. BUT all above are different from each other can be done simultaneously. more  
DAKSHIN HARYANA BIJLI VITRAN FARIDABAD. Worst managed board of Haryana Govt We live in Sainik colony Faridabad and suffer from frequent long power interruptions. Vague answers or no answers is the response. Life quality is so bad in this so called smart city. Will Haryana Govt wake up after 51 years of Kumbhakarna sleep. more  
Mr. Sanjeev Kumar, as far as your problem is concerned it will be proper and economical too if more and more people who are cheated by the same builder come together and form an association, then you can engage a good lawyer to file a case of cheating or non-fulfillment of agreement by the builder. Very recently Mumbai high court has penalised such builders very heavily and in some cases police cases has been filed. The check Mumbai edition of some of national English dailies of last 30 days. It is a civil matter and I am not sure whether consumer courts have any jurisdiction in such cases, but any how you can file a case in consumer court also. more  
With new technologies/ services/ consumer products etc. problems are bound to come. But government should frame guidelines to protect the interest of the consumer. more  
Post a Comment

Related Posts

    • Online fraud and cheating by Reliance Digital

      Ordered one Vivo mobile worth 34990 online in Reliance Digital. But to the shocking, after opening the cartoon, found 4 liril soaps. The product was sent in big carton box. No one send mobile phon...

      By S Thangavel
      /
    • Media becoming PR Agent

      I am very concerned how media is partnering with sin industries and promoting them for the sake of money. First off India online gaming summit has been organised today by indian express ...

      By Shikha Jain
      /
    • COACHING CLASSES

      I am not able to understand the need for Coaching classes as it exists today in our Country's horizon. Some like Byju's classes employ film stars by paying millions, advertise on all Television cha...

      By VIJAYKUMAR N
      /
    • Usage of Refined Palm Oil

      Most of us are not aware of the bad effect of refined palm oil with reference to heart health . India is the largest exporter of this oil. All the well known MNC & Indian corporates and Local ...

      By Hariharan SUBRAMANIAN
      /
    • Very poor consumer affair ministry

      As per medical experts odds of developing oral cancer with consumption of Pan masala ( even without tobacco) is high. Sad to see ads of Pan masala during cricket matches which is watched by s...

      By Garima Sharma
      /
    • direct tax collection-2nd quarter of this financial year

      a recent report says that the direct tax collection for the 2nd quarter of this financial year has increased by 22% on a y-on-y basis.this is a clear indication of the increased profits of the corp...

      By Suresh Dasarathy
      /
    • Great work LC

      The efforts of creating awareness amongst Indian regulators has bore fruit. Johnson and Johnson’s baby powder manufacturing license has ben terminated by Govt of Maharashtra.

      By Shikha Jain
      /
    • Avoid Rantac and Zantac - they are cancer causing

      Known as Rantac and Zantac in India, ranitidine is still a heartburn go-to for many individuals and Doctors. But several countries suspended its sale in 2020 after it was found to contain cancer-ca...

      By Mala Sehgal
      /
    • Call drops Nd connection issues

      What our circle report is bringing out is contrRary to what TRAI is reporting. The babus are lying saying call drop has become better but our survey is saying 56% facing severe call dro...

      By Aditi Mitra
      /
    • Dont share your contact lists with payment wallets

      Most of them check your list of contacts and the density of the conversations to avoid fraud users Basically they are reading your communications. Also if you have confidentia...

      By Shivani Batra
      /
    • Ethanol blend in Petrol

      Ethanol blend in petrol has been considered as an easy option to neutralise the rising cost of Petrol. It was earlier 5% and now enhanced to 10%. Whether there is a visible impact of such blend on ...

      By Chandan Saha
      /
Share
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)