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Q. Dear sir; Agreement Was done and buyer given me 1 lac cash token and 12.5 lack by cheque,now i have to cancel

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Anonymous

posted 2 months ago

Q.Dear sir; Agreement Was done and buyer given me 1 lac cash token and 12.5 lack by cheque,now i have...
Dear sir; Agreement Was done and buyer given me 1 lac cash token and 12.5 lack by cheque,now i have to cancel the agreement and wants to refund the buyer all of his given amount ,but buyer is demanding the interest of 50k to 150 k what should i do ? i also lodge the complaint agenist him in nearest police station as he was tethering me on phone call and by coming in my office please guide .

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Shreyash Mohta

Experience: 1 Year(s)

Responded 2 months ago

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A. ) Issue a legal notice and file for recovery suit.

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Anonymous

Replied 2 months ago

I had issued a legal notice but question is that who will file the recovery suit. Buyer or seller... Since seller is ready to return all the amounts to buyers but the buyers are ofently demanding the intreust.. Plz guide Me sir

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Kishan Dutt Kalaskar Retired Judge

Experience: 33 Year(s)

Responded 2 months ago

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A. ) Dear Sir,
You may get issue a legal notice and as per the terms of agreement you may terminate the sale agreement.

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Adv. Swapnil S Bhalerao

Experience: 3 Year(s)

Responded 2 months ago

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A. ) Hello,
If your agreement clearly mentions that upon cancellation of such agreement either party is bound to pay the interest so mentioned then you may have to adhere by it. If thats not the case then the buyer cannot demand such interest amount from you. It all depends on the agreement that has been executed between you both.
Hope that helps!
Regards.

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Anonymous

Replied 2 months ago

R/sir ; Agreement was mentioned that if seller falls to make selldeed or cancelled then has to pay the interest as per bank rule but agreement not signed by any owner of seller side, however buyer paid the amounts by cheque and It was cleared and said that deal is cancelled u should take ur payment by our cheque just after 2 days and now buyer is continuously demanding the intreust of 150k for cancellation, dear Sir first of all agreement has not signed but the token agreement was signed mentioning the amount in which intrest was not mentioned...

Please guide

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Adv. Swapnil S Bhalerao

Experience: 3 Year(s)

Replied 2 months ago

Hello,
If you have not signed the agreement it is not binding upon you. However, you are liable to return the token amount that you have received. If there was another token agreement then you are constrainted by it.
These documents needs to be analyzed by your lawyer to guide you more clearly and properly.
If you feel you are at risk, please do so.
Regards.

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Rameshwar Dadhe

Experience: 2 Year(s)

Responded 2 months ago

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A. ) Nothing any such right to the buyer. File recovery suit

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