Applied for loan from IDBI bank for purchase of flat fron Exotica Developers in 2008. The loan disbursement was delayed as the loan limit to the builder had exceeded. I was told by builder's representative not to bother as this a problem between the builder and the bank and very soon fresh loan will be sanctioned for the project and my case as well as other similar cases pending would be dealt with without any penalty. But after the loan got sanctioned the M/s exotica Builders is demanding interest charges @ 24% for the full delay period.

I would like to invite all who are facing similar problem to join hands ASAP and formulate a strategy to deal with the situation.

Regards,

Manoj