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I want to get Money recovery from builder. I am victim. Help me


18-May-2023 (In Recovery Law)
Dear Sir, I live in thane west. 4 Years back I booked a property with a renowned builder in Kolshet Road Thane and given required booking amount. Since I had very good relationship with builder and he asked so I invested 50 lacs on 12% / year interest rate. I thought anyways he is building the house and I have also booked one so as the work progress I can keep giving him money out of this investment against my booked house. Initial 2 to 3yrs were very smooth as I was timely gettinf my interest cheques. On the other side the property I booked never progressed and its still same as it was 4 years back so I withdrawn my booking amount somehow in last 1.5 yrs. Now I am really facing difficulty for recoving my 50 lacs...and in last 5 months I have not even received my interest cheques. Whenever I talk to him he give promises but never fulfill. I am really tired and frustrated now... Can someone please help me... I really need your expert advice to get out of this difficult situation..
Answers (1)

Answer #1
546 votes
If any person to whom you have given loan of any amount, then in such case you shall have the right to claim money amount from that person by filing a recovery suit under order 7 rule 2 of CPC against that person. But before you file any recovery suit you shall have to send a legal notice for the recovery of the said amount of loan by giving him 7 days to repay. If he does not pay the loan amount within 7 days of such period, then the civil proceedings shall be commenced against him.

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