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Home / Legal / Due Diligence / 1year after receiving letter of possession and closing the house loan bank account, my builder’s office informs me that there is some amount due to be paid to them. The amount is running in lakhs. The management agrees to have missed raising the invoice in a timely manner. Now that they have noticed it they are demanding for it. What rights do I have in this case? I am not denying the payment but since the loan account is closed I am facing problem in raising the financial amount .
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1year after receiving letter of possession and closing the house loan bank account, my builder’s office informs me that there is some amount due to be paid to them. The amount is running in lakhs. The management agrees to have missed raising the invoice in a timely manner. Now that they have noticed it they are demanding for it. What rights do I have in this case? I am not denying the payment but since the loan account is closed I am facing problem in raising the financial amount .

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3 Year

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0 2024-11-29T13:32:40+00:00
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Hi, In this case, you have the right to seek clarity and justification for the delayed demand. The builder’s acknowledgment of their mistake in raising the invoice late strengthens your position to negotiate payment terms. 

You can request a detailed statement of the pending amount and review your agreement to confirm the validity of the claim. If the claim is valid, you may negotiate an installment plan or extended timeline for payment, considering your financial situation.

Since the loan account is closed, explore alternative funding options or consult a legal expert for advice on handling the builder’s demand appropriately.

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Akanksha Shukla (law graduate)

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