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Amount paid for farm plots purchase, builder not registered & filed IP


26-Sep-2026 (In Property Law)
Plotting developer collected money from me last two years bank and delayed registration, now absconded and sent insolvency notice to all victims
Answers (4)

Answer #1
566 votes
pls comfi weather IP is levid through NCLT or a local district court , one IP petition is filed, the civil suits are barred during moratorium period but criminal liabilities under 420,406,506 ipc are possible also , if any cheques are avaible ,through cheque bounce it is possible to an extent , and due to Ip is put , u have to participate in IBC code related , financial creditor class or an interim resolution professional group to claim ur relief , regards,
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Advocate D Lalith Kumar

Adv. D Lalith Kumar

LawRato Secunderabad | 25+ Answers
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Answer #2
906 votes
You may pursue appropriate legal remedies for delayed registration and recovery of amounts paid. If insolvency proceedings have commenced, file your claim within the prescribed period and examine available remedies based on the agreements, payment records and project documents.
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Advocate Ravindra Anjaneyulu

Adv. Ravindra Anjaneyulu

LawRatoAnantapur | 5+ Answers
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Answer #3
615 votes
The matter requires urgent legal action. Since substantial amounts were collected and registration was delayed, while the developer has now absconded and issued an insolvency notice, the transaction documents, payment proofs, agreements, project approvals and insolvency proceedings must be examined immediately. Appropriate civil, criminal and insolvency remedies may be available, including recovery of the amount paid and protection of your legal interests. Do not sign any settlement or acknowledge any liability without obtaining proper legal advice.
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Advocate Pavani Kumari

Adv. Pavani Kumari

LawRatoGuntur | 400+ Answers
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Answer #4
553 votes
First, collect all the documents related to the transaction, including the agreement, payment receipts, bank statements and communication with the developer. You can send a legal notice demanding registration of the property or refund of the amount paid. You can also file a consumer complaint before the appropriate Consumer Commission for deficiency in service and seek refund, interest and compensation, subject to the facts of your case. If the developer has cheated you, a criminal complaint may also be considered, depending on the available evidence. Since the developer has reportedly absconded and issued an insolvency notice, immediately verify the status of the insolvency proceedings and take steps to file your claim before the concerned authority within the prescribed time. Do not delay taking legal action.
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Advocate Mohammed Affan Rizwan

Adv. Mohammed Affan Rizwan

LawRatoHyderabad | 25+ Answers
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