1

A person purchases a flat and pays 100% of the flat's value including all other formalities. In return, the builder provides possession but not the registry.

What's next? The Buyer is not interested in money but registry.

  • Paul, what does bankruptcy/insolvency have to do with this situation? Is the builder insolvent/bankrupt? – sharur Jun 14 '18 at 22:07
  • Yes, Amrapali has filed insolvency – paul Jun 18 '18 at 5:34
2

In the US (and, as this is an old Common Law concept, the UK), a court can order "specific performance" (also sometimes called "replevin"), where a party can be compelled to perform specified actions, generally to the completion of a contract. Since you have completed your end of the contract, and they are apparently refusing to do their end, you may have a lawsuit for breach-of-contract.

Since British Law has some influence on Indian Law, this remedy may be available to you.

One complication that I see, is that their ability to transfer the registration to you may be blocked by insolvency/bankruptcy, if the registration has value and if they have unpaid creditors.

I would recommend talking to an Indian lawyer concerning a breach-of-contract lawsuit (and mention to them that your goal is to obtain the registration, rather than monetary compensation), and to explore your options.

Source: https://smallbusiness.findlaw.com/business-contracts-forms/what-is-specific-performance-as-a-legal-remedy.html

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.