I want to cancel the registered GPA & joint agreement
09-Dec-2023 (In Arbitration Law)
Till date promoter not yet sanction plan/construction of bldg. not strated. They asking for a new supplementary unregistered agreement with new proportion. But I want to cancel the cancel the regd. GPA & joint agreement. Their is arbitration clause. I belongs to hindu
Sir,
It would be very difficult to comment without going through Power Of Attorney and Joint Agreement for example whether Power Of Attorney is revocable or not beacuse usually it’s irrevocable in these circumstances.Does your agreement have any fixed cancellation or termination of agreement clause? Was their any date mentioned in the agreement by which construction should have been started?
Another smart trick by the builders. The Joint Development Agreement is executed & registered to comply with rules and regulations. After that, a separate supplementary agreement to joint development agreement is signed. It is either change in some of the existing clauses of JDA or additional clauses that will form part of JDA.
I express my inability to advice further.
Hope this helps.
Regards,
S.K.Chowdhury
It would be very difficult to comment without going through Power Of Attorney and Joint Agreement for example whether Power Of Attorney is revocable or not beacuse usually it’s irrevocable in these circumstances.Does your agreement have any fixed cancellation or termination of agreement clause? Was their any date mentioned in the agreement by which construction should have been started?
Another smart trick by the builders. The Joint Development Agreement is executed & registered to comply with rules and regulations. After that, a separate supplementary agreement to joint development agreement is signed. It is either change in some of the existing clauses of JDA or additional clauses that will form part of JDA.
I express my inability to advice further.
Hope this helps.
Regards,
S.K.Chowdhury
Helpful?
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Although it is tough to comment without seeing the copy of agreement till you have option to cancel the agreement smoothly if both party mutually agreed. If not, you have to send notice for cancellation of agreement. Cancellation is possible.
Helpful?
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Sir
As you have entered into an agreement the clauses in it are necessary to give answer.
Simple way, if you have taken any consideration then you must return the same as and when you cancel.
You can first send a legal notice to comply the agreement if he is not willing you can cancel the POA.
Thanks
As you have entered into an agreement the clauses in it are necessary to give answer.
Simple way, if you have taken any consideration then you must return the same as and when you cancel.
You can first send a legal notice to comply the agreement if he is not willing you can cancel the POA.
Thanks
Helpful?
43+
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