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Landlord not returning token money
10 months ago
I had paid a sum of 2,91,000 as token money to my landlord. We entered an agreement where 5lakh was security money and the building was to be handed over on 01 april 2023.
On 29th March 2023, during bank inspection for my business loan it was found that building is not yet ready for any kind of commercial use.
So i went for cancellation of agreement.
Also sent a legal notice to which the landlord replied that he has already paid full amount back to me.
When asked for evidence he just says that he paid cash infront of his building contractor who is obviously speaking from his side.
I have his signs across all the payments i have made
Kindly advise. Thanks
A.Dear Client,
In selling of immovable property, one should not accept sale consideration of immovable assets in cash in excess of Rs. 20,000. Exceeding the limit of Rs. 20, 000 may lead to a penalty of 100%. The limit set for a cash loan is set to Rs. 20, 000 as per Section 269SS and 269T of the Income Tax Act. A transaction of an amount equal to Rs 2 lakh or more is allowed through an account payee cheque, or an account payee bank draft, or the use of an electronic clearing system (ECS) through a bank account. Any person who engages in a transaction of Rs 2 Lakh or above in cash, will be liable to a penalty of an amount equivalent to the amount of the transaction. This has come into effect from 1st April 2017. Being the above proposition of law, after serving a legal notice to the landlord, you need to file a civil suit against the landlord for recovery of both token money and security deposit from the landlord. Reach out to an Advocate for guidance and steps.
In selling of immovable property, one should not accept sale consideration of immovable assets in cash in excess of Rs. 20,000. Exceeding the limit of Rs. 20, 000 may lead to a penalty of 100%. The limit set for a cash loan is set to Rs. 20, 000 as per Section 269SS and 269T of the Income Tax Act. A transaction of an amount equal to Rs 2 lakh or more is allowed through an account payee cheque, or an account payee bank draft, or the use of an electronic clearing system (ECS) through a bank account. Any person who engages in a transaction of Rs 2 Lakh or above in cash, will be liable to a penalty of an amount equivalent to the amount of the transaction. This has come into effect from 1st April 2017. Being the above proposition of law, after serving a legal notice to the landlord, you need to file a civil suit against the landlord for recovery of both token money and security deposit from the landlord. Reach out to an Advocate for guidance and steps.
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A.Dear client,
If the owner still isn't returning the money after filing a legal notice, file a case in the civil court for the recovery of the security deposit. You can also file a case for criminal breach of trust.
Gather all the necessary documents, such as the rental agreement, receipt for the security deposit, and proof of damages to the rental property.
Hire a lawyer to represent you in court.
If the owner still isn't returning the money after filing a legal notice, file a case in the civil court for the recovery of the security deposit. You can also file a case for criminal breach of trust.
Gather all the necessary documents, such as the rental agreement, receipt for the security deposit, and proof of damages to the rental property.
Hire a lawyer to represent you in court.
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