Legal Question in Consumer Law in India

I booked a flat in Gaziabad area. Project was approved by HDFC, IDBI & PNB banks. I applied for loan with HDFC at early stage so that I will get with stipulated time agreed by Builder. Since I reside at remote area, bank denied me loan saying bank has no network at my residence locality to verify after keeping me in dark for a good period & by that time has expired. after some time, some how I manage the loan from same bank. Thus almost 3 months expired to deposit loan amount with builder after due date. There is clause in agreement that builder will charge 18% in case of delay payment as well as arrangement of fund is lying with alotee.

Since project was approved by HDFC & I applied with the same. In all document I mentioned same address. In light of this, is it not duty of builder as well as HDFc to deny my booking? How will law save me from paying interest for three months?


Asked on 10/16/13, 12:01 pm

2 Answers from Attorneys
Santosh Goswami,Advocate sure shot legal

I don't see any fault on the part of builder and he is within his right to demand interest as per t & c of agreement. Now, at the best the deficiency and lapse seems apparent on the part of the bank. If u could defeat the bank excuse for delay, you can be successful in asking for that interest from the bank. First of all, you can start by serving a legal notice to the bank.

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Answered on 10/16/13, 9:13 pm
Fca Prashant Chavan Expert Edge LLP

17.10.2013

Dear Sir / Madam,

The inordinate delay has occurred on the part of the bank in disbursing your loan amount to the builder. You should take up the matter with the bank, and request them to bear the interest loss for the three months, since it was they would unnecessarily delayed the release of your loan amount to the builder. You can also lodge a claim in the consumer forum against the bank.

Regards,

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Answered on 10/17/13, 8:18 am


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