Negotiable Instruments: Exhaustive Coverage by Adv Roma Bhagat. Register Now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Ram Hinge (Propriter)     12 February 2013


We have entered into a redevelopement agreement with an Architect cum developer in 2009 for our society located in south mumbai. He introduced his business partner to us who is also a director with him in his construction company. We have a clause in mou that the developer can not sublet/transfer/sell developement rights to third party/his successors/etc.

The said building was vacated in 2010 by all the members and work started in 2011. At present not even four floors have been costructed out of 19 in total. All the tenants are in transit for four years even though the developer assured us to complete the work in 22 months.

Now the two partners are in despute with each other on financial issues best known to them as all the salable fsi have alredy been sold by them. Due to this the work is stopped completely.

The first part (Architect) informed us that he is backing up from this project and his partner will be continuing the same.

Please advise us on this issue as the two are not willing to take a joint meeting with us. In order to avoid further sufferings of all the members what should we do?


 1 Replies

ABHIJEET PARIKH (Bcom LLB MBA)     12 February 2013


u file suit for specific performance but information shared here is quite limited as to whether what is the legal nature of entity also in whose name saleable fsi loaded ideally it should be in name of society

whether they r still continuing rentals ...... what is the hardship caused to the members apart from the delay whether they proper permission ie  CC from bmc to continue the project

legally ur society can file injunction or ask for bank guarantee provided

u can contact me with the details


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register