[ParamountGroup] Fwd: Builders Responsibility - Housing Loan

 

---------- Forwarded message ----------
From: Prem Goel <peeceegoel@gmail.com>
Date: Wed, Apr 4, 2012 at 3:34 PM
Subject: Builders Responsibility - Housing Loan
To: Members Association of Paramount Symphony - MAPS <membersaps@gmail.com>


The Debt Recovery Tribunal in a recovery suit against the members of Hindon Heights Flats Allottees Association has held that in case of default in handing over of the possession the Builder will be primarily responsible for the payment of the Amount of Bank Loan, interest etc. dismissing the contention of the Bank to order recovery of the amount from the borrowers i.e. the members of the Association.  

The Tribunal has ordered the builder i.e. M/s Shreya Developwell P. Ltd to pay the amount of the Loan alongwith interest @ 13.25% and other charges within a period of 2 months from the date of the orders failing which the recovery certificates will be issued against the entire properties of the Builder including the personal properties. 

Thereafter if any amount is left that will be recovered from the borrowers i.e. the Members of the Association. 

The cases though personal in nature as the DRT do not allow class suits were monitored by the Association at all levels. 

--
P.C.Goel
Company Secretary
R - 8/81, Raj Nagar
Ghaziabad (U.P.) India
(Mobile)   9810000471
(Phone)  -  (0120) - 4135485

--
P.C.Goel
Company Secretary
R - 8/81, Raj Nagar
Ghaziabad (U.P.) India
(Mobile)   9810000471
(Phone)  -  (0120) - 4135485

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