Dear Sir,
I have recieved the Advance amount as part of sale proceed of my Flat from the prospect Buyer .How ever verbal discussions on terms and conditions are as follows.
The Buyer to get register the property with in 15days by paying the remaining amount,otherwise the advance paid shall be forefieted without any reasons.
I have issued the reciept for the amount revieved,How ever we have not entered into any Sale agreement since buyer is very confident of proceeding to registration directly with in the above timeline.
in spite of my repeated calls,he ignored to get it register and after one month he come back and asking for returning the money by giving reasons that my Bank did't approve the loan .
I told them that as per our verbal agreement ,the advance money can't be returned.
Now after one year later he sent one lawyer notice stating that that it is cheating case and i should return entire amount plus 24% interest per annum plus legal charges with in 10days or file the affidavit in the City civil court.
Pl advice on the above .
Thanks
Ram
