How it could be solved.
Querist :
Anonymous
(Querist) 03 August 2010
This query is : Resolved
Respected Experts,
The owners and Developer have executed a Development Agreement (un-registered) in the year 2007 and both of them have cancelled the said document by executing a separate cancellation deed (un-registered) in the year 2009. While executing the said cancellation deed, the owners have returned back the amount to the Developer, what ever they received earlier. The said amount has been paid by way of post-dated cheques to the Developer by mentioning the Cheque details in the said deed. But the Developer has not presented the said cheques for realization till now and only two cheques were presented and honored. Now the other cheques are time barred.
At this juncture
1) What the Developer should do for recovery of the balance amount.
2) Is there any possibility to cancel the said cancellation deed?
Devajyoti Barman
(Expert) 03 August 2010
The developer can again demand for money as the previous cheques were not encashed . Several grounds can be taken for its non encashment including its loss. In any case the owner is not absolved of his liability merely because the cheques were not encashed and if it is not time barred then he is bound to pay the money.
