I bought a flat in Lucknow in 2016 by taking a bank loan on percentage completion method for payment. The builder kept on sending us the payment demands as per the construction happening in last 4 years. The bank used to disburse amount to builder as and when the demand came for it. All of a sudden to my shock i saw that the builder had sent me big interest amount, stating delay in demand payments for last 3 years. The shocking thing is that the Builder or their team never communicated to me about any such delay before. Now he is quoting 16 percentage written in our contractual agreement to put this extra late payment interest amount for last 3 years. No delay was communicated earlier. All of a sudden big interest amount for 3 years has been bombarded on us, now at time of final payment & registry.
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I booked my flats in 2008 in Gurgaon, Haryana, flats almost ready in 2014, but builder is not getting oc, and keeps on lying that will be getting oc in 2 months and then again 2 months and so on. Now he has filed for insolvency. Can he auction flats for which I have paid . I have paid all except last payment as he does not have oc and demand is not raised, please tell me what course of action I can take. I live out of country.
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