dispute with builder jaypee in wish town noida
05-Sep-2023 (In Recovery Law)
i have a pvt ltd comp,in which i purchased 6 appt from jaypee in wish town noida,since 2012 i have given them 7 crores,possesion date of each appt has passed',work is stalled in these projects,i want my money back ,but there is also arbitration clause in agreement,which path should i follow,what is my scope of my getting my money bk, regards
File a consumer case against builder jaypee. If they invoke the arbitration clause, then proceed accordingly with the arbitration proceedings. But if they don't invoke the arbitration clause, then the case would continue before the consumer court itself since they have surrendered the jurisdiction.
Sir, you have a good case before the consumer court (ncdrc) for which an appropriate complaint may be filed. Irrespective of the arbitration clause such a complaint may be filed as the consumer protection act may be invoked even in the face of an arbitration clause
You may give a legal notice to jaypee.
Further you may initiate arbitration proceedings as per law.
You are also having another option to file for criminal case, but the scope is limited.
But it is to be remembered that each case has its own facts.
It is recommended not to proceed for civil case, as section 8 of arbitration act will put a stay on civil proceedings and refer the matter for arbitration.
Further you may initiate arbitration proceedings as per law.
You are also having another option to file for criminal case, but the scope is limited.
But it is to be remembered that each case has its own facts.
It is recommended not to proceed for civil case, as section 8 of arbitration act will put a stay on civil proceedings and refer the matter for arbitration.
I need to see the copies of buyers agreement of all the six apartments and other relevant documents. After going through the documents, fix a meeting and advise further course of action there and then.
You should file a consumer complaint for damages and compensation. You have the option to proceed further under consumer protection act, rather than proceed under arbitration. Inordinate delay in completion of project is a deficiency of service, which entails penalty. However if the project is abandoned you will get your refund alongwith compensation
New forms now available to file claim for Jaypee home buyers in National Company Law Tribunal (NCLT)
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