Legal Question in Business Law in India

Reecently on 22.03.2012 I had purchased a travel ownership sheme from Royal Resort club after few influential converstios with their marketing staffs.The total amount I have to pay is Rs1,25,000.At present I have paid the down payment of Rs12,500 on 22.03.2012. The rest amount is financed by some Parshuram Finance company on loan, which is tie up with royal resort.For that I have signed two agreement copy on stamp paper ,one is ownership agreement to use their resort as per agreement and othe is loan agreement with Parshuram Finance limited for which EMI has to be paid from May,2012.The service of resort I can be availed after paying the 6th installment as per agreement..But later after discussion with my guardian&freinds;I found that the sheme is not realy usefull for me and also heard few fraud activities about royal resort on the name of travel ownership sheme.So my question is can I now cancel the agreement from my side giving notice to them?Can I claim to refund my downpayment amount?


Asked on 3/31/12, 12:43 am

2 Answers from Attorneys
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Yes you can

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Answered on 4/01/12, 6:42 am
Jayesh Desai Jayesh Desai

Yes, you can cancel the agreement, but whether you can seek refund or not, one needs to see your agreement copy. Mostly the way such agreements are worded; you may not be able to seek refund.

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Answered on 3/27/13, 9:15 am


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