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Subvention plan into not recriving


02-Sep-2023 (In Property Law)
I purchased Amrapali under construction flat January 2015 thru subvention plan per which Amrapali was supposed to pay interest till possession. Home loan was through Central Bank of India disbursed 80% in February 2015. Amrapali paid monthly interest till February 2017 and nothing after that. Bank has been chasing me for the interest and has sent a legal notice to me recently for me to pay the interest charges and threatening to file.bank presented surety cheques which were rejected in my bank.I have a legal agreement with Amrapali as per which they are supposed to pay interest till possession, but presently no existence of Amrapali. on the other hand bank loan with bank is in my name.Should I not pay the interest as I have a legal agreement with Amrapali.The problem is that there is no agreement between the bank and Amrapali, and as per the bank I am liable to make the payment.what should I do
Answers (2)

Answer #1
949 votes
A careful perusal of all the necessary and relevant documents including correspondences between all three parties is pertinent to arrive at a conclusion. Further and better particulars are needed for an effective opinion.
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Answer #2
628 votes
this is the common scenario in real estate industry today. not just with amrapali but other institution are also working with same modus operandi and everytime clients fall pray to these practice. we have a common matter in hand where we have raised the defence and its working well for client . you can get in touch with us.
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