Refund Cheque Bouncing
I had booked a flat with M/s Vedic Realty for their project in Rajarhat, Kolkata in 26th June 2014 and have till date paid Rs 1010931 lacs against demands raised by them from time to time. The booking was done through their Marketing agent, M/s Indiabulls Distribution and loan availed from Central Bank of India. As per the terms of the Agreement drawn in 26th 2014, the builder had committed handover of the unit within 36 months from the Agreement date with an additional grace period of 6 months. This above period got over in December 2017 but the project didnt even start. I had met Vedic Realty representatives alongwith team from Indiabulls and was apprised that the project completion will take more time. I had then only enquired the process for cancellation as the project was delayed and was asked to route the same through M/s Indiabulls. I was also committed that Vedic will not levy any cancellation charges since the delay was at their end.The cancellation agreement was signed and 9 post dated cheques were issued to me. Hence as per the first cheque date i had submitted the same which has bounced for insufficient funds in the Vedic Village Account. I called them up several times and kept getting assurances regarding my payment but till now nothing has been done about it. In fact the second cheque has also been deposited and am sure it will also bounce. Can you please let me know what are the steps i can take now.