I did sal agreement with builder On Jun 2012.Bulider wants tri-party agreement ,But Bank(IDBI) Intrested to do cheque disbursement On Regestration.
Now Bulider send a letter to me that I need to pay penalty of 40K due to late payment.
Bank people told that Builder track record is not good and not a prime builder.
I informed to builder but they are not listening, and they want penalty amount.
Can I take legal action on builder and what is the procedure?