Can I demand interest on the delayed payment?
I invested 19 lakhs in a government company society layout in Bangalore in 2015, based on a colleague's recommendation. The layout was supposed to be approved and ready, but it has been delayed for years. The Society is now saying the layout is not approved and they will refund the money. almost 10 years !! I've only received 5 lakhs so far despite multiple followups.Now Society asking to chase developer directly whereas I never dealt with him till date. My questions: Can I demand interest on the delayed payment? Do I have a strong case if I take this to court? Additional information: I have a receipt for the payment. The AGS office has a record of my investment. I don't have a signed contract or any other documentation. Please let me know if you need any further clarification.
You can claim interest on the delayed payment from the society since you have a receipt for your investment, implying you are owed the money. Since it has been a long time and some amount has been paid back, you stand a very good chance in court if you decide to go that route. Even the AGS office's record of your investment is in your favour. Since you don't have a signed contract, the receipt is proof of your exchange. It would be wise to contact an attorney who specializes in either real estate law or consumer protection to discuss your possible course of action.
Given the 10-year delay and partial refund, you can demand your full investment back with interest due to the Society's misrepresentation. Since the Society initially assured you of the layout’s approval and is now deflecting responsibility to the developer, with whom you have no direct contract, you may pursue action against the Society for breach of trust and misrepresentation. Since your funds were withheld without justification, you are likely entitled to claim interest. Although you lack a signed contract, your receipt and AGS office records support your claim. Issue a formal legal notice demanding the full refund with interest. If they fail to comply, consider filing a complaint in consumer or civil court for additional damages.
Sir, you can send a legal notice demanding interest on the delayed refund and you can also file a complaint to appropriate authority with the help of an expert lawyer who will assist you through the legal process. For further legal assistance contact us on our helpline number.
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