consumer

Querist : Anonymous (Querist) 21 November 2010 This query is : Resolved
there is a tripartite agreement between the builder, buyer and the bank and the builder agrees to pay interest for an interim period till possession of house is given. but the house is not constructed only. can the buyer of the house ask for injunction against the court to not demand the interest from him or ask the builder to pay the interest since the object of the contract has been frustrated?
is there any case law with similar facts? PLEASE HELP

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Sri Vijayan.A (Expert) 22 November 2010
As the builder agreed for the payment of interest for the pre-emi period, it is his contractual obligation, he has to pay it.

Raj Kumar Makkad (Expert) 22 November 2010
In the given matter, the whole interest is required to be paid by builder as he has failed to construct the building in time and as per essence of contract, he is liable for such interest.