quesCompensation entitlement in executed MOU after the builder approval

I have entered an MoU on 30th September 2017 between Two builder for transfer of invested/paid money from one builder account to another builder account with clearly mention about the compensation & the same was notarized on 10th October. But my invested money transferred from one builder to another builder account without any compensation. I talked to my first builder for not receive compensation amount in another builder account, they told me that compensation approval from uppar management is dated 4th October 2017 so you are not eligible for compensation even if the MOU is notarized i.e 10th October beyond the approval date. May I know that if I am eligible for compensation or not as per the MOU. which date in MOU is valid ie Execution date or notarisation date for making me eligible for compensation.

  • ansHi, your query is not clear please mention the details like compensation of what and if possible if you can share the copy of MOU then it will be much better to advice after reading it.
    What I have understood is is you invested some money in a property but didn't get that property then you purchased another property and your entered into MOU with the previous builder where you invested that money should be transferred to the seller of new property which you want to buy along with interest on your money. And the previous builder has only transferred the principal amount without interest is it correct?

    Advocate Aman Mishra

      Lajpat Nagar, Delhi

  • ansSubject to more factual clarification and elaboration, it appears that you are entitled to receive the compensation as agreed to under the MoU.

    The ground of refusal does not appear to be justified. Post the date of execution of the MoU, you have become entitled to the compensation

    There is no requirement under law, to have the MoU notarized on the day of its execution. This ca't be a reason for rejection of demand for compensation.

    Advocate Divyanshu Srivastava

      Mayur Vihar Phase 1 Extension, Delhi

  • ansFor better advice I have to go through the MOU in details, signatory of MOU is also very very important in your case. Therefore you have to give all the details of the incidence then only a case can be made out. But in such type of cases compensation can be claimed if there is clause in MOU.

    Advocate Prasoon Kumar

      Pradeep Vihar, Delhi

  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Consumer Court Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
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