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posted 6 months ago

We have entered a joint venture agreement with developer in which apart from joint venture agreement where there is 50-50 ratio sharing of total F.A.R, he has given rs.4 lakh as per agreement which is refundable , there is also a profit sharing agreement in which he is supposed to share 33% of profit. He has given another rs.3 lakh and also he has given rs.5 lakh to my elder brother but he is reluctant to give single penny to me and my mother and my elder sister. He also deliberately concealed the profit sharing agreement and didnt part with us.The developer defaulted in completing the project within 2 years as per agreement , now it is more than 3 years yet he has not completed the project . The extra money rs.3 lakh and rs.5 lakh he has given to elder brother he has given had not taken any no objection from all the owners as per agreement. Is he bound produce the profit sharing agreement as there is no other agreement to return his money it is implied that he is obliged to give from the profit sharing. Can he claim the money he has given. Can we claim interest as per rera act(if is drafted in west bengal but not yet passed) We have claimed the share of profit but he denied. Can he show less profit? Can we force the normal profit according area and location and cost of such project ?We have launched complaint online in district consumer dispute redressal commission, claiming the profit with interest,he has probably not replied and they have asked both of us to attend their office. What will happen if he will not attend on the stipulated date? What should be our step after that?

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Kishan Dutt Kalaskar Retired Judge

Experience: 33 Year(s)

Responded 6 months ago

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A. ) Dear Sir,
It is a case to be tried and nature of civil so it is better for you to approach a Civil Court instead of RERA.

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