M/S Omaxe Limited — Forgery by omaxe by not giving appropriate interest and keeping due money for longer than stipulated time

Address:

Lucknow, Uttar Pradesh, 226012

Dear Sir,

I made an agreement with M/S Omaxe Limited on 10-Feb-11 for a land (plot) to be allotted in 24 months, at a cost of Rs. 1, 225, 000.00.

As per the agreement, in the event of Omaxe failing to allot the plot as contemplated within a period of 24 months or is unable to make allotment of the plot in terms of the agreement for other reasons whatsoever, then I was entitled to a refund amount of Rs. 19, 25, 000.00/- (Nineteen Lacs Twenty Five Thousand Only).
And in the event Omaxe fails to allot the plot within time period aforesaid or mutually extended period, I was having an option either to accept the allotment or sell the plot back to the First Party for a total value of Rs. 19, 25, 000.00/-. This amount was non-negotiable and as per agreement was meant to be paid by Omaxe to me within 30 days of exercise of such option by me.

This option was available to me on expiry of 24 months (from the date of agreement).

IMP: As per agreement if the ALLOTTMENT is made at a belated date than agreed herein and is accepted by me, then I was not entitled for any INTEREST on the amount PAID by me or for any additional amount as payment.

Omaxe did not allot the plot till July-2014 (almost 42 months after the initial agreement) and on contacting them by phone, they keep on saying that they will do the allotment soon.

In July/August 2014, they told (via phone) that they cannot do allotment as they were not able to acquire the expected land from Government and now they want to pay the agreed amount of Rs. 19, 25, 000.00/- back.

PROBLEM 1: Even if I submitted the application of paying this money Rs. 19, 25, 000.00/- and cancelling the allotment of plot, I finally got the money on 11-Sep-15, almost 9 months after I submitted the application i.e. 24-DEC-2014 against the 30 days time frame which was LEGALLY AGREED in the contract.

PROBLEM 2: The payment of Rs. 19, 25, 000.00/- was agreed after 24 months. OMAXE did not pay this amount immediately after 24 months and Illegally HELD this amount till 11-Sep-2015 and did not pay ANY INTEREST on this amount of Rs. 19, 25, 000.00/- from the period of 10-Feb-2013 (24 months after the Contract was made) till 11-Sep-2015. The interest at a nominal rate of 8.5% would have been around 5Lacs and they illegally kept this INTEREST with them and did not pay this interest. I had to submit the CONTRACT CANCELLATION request on 24-DEC-2014 to at least get the PRINCIPAL AMOUNT (i.e. Rs. 19, 25, 000.00/- ) since I knew that if I just wait for INTEREST AMOUNT as well, I will not get my Principal amount of Rs. 19, 25, 000.00/- as well.

REQUEST : PLEASE HELP ME in getting my RIGHT and getting this INTEREST AMOUNT of around 5 LACS from OMAXE which they held illegally.

Thanks,

Pawan D