BPTP asking Interest

[freemind76]

Hi,

I need an advice. BPTP has sent me a letter asking for a huge interest (70K) for some of the installments paid delayed. The delay was of 3 months, 1 months, 15 days and 12 days. They are asking for the interest calculated for last 4 years compounded. Some of the delays were due to BPTP was not able to provide the required docs on time for loan.

I am puzzled by the letter as I don't know what to do with these crooks. I booked the plot in Jan 2006 and have not got any possession or any hope so. Everytime, I ask about possession date, I get the standard answer that we are working on it and we'll contact you in due course of time. God knows...

I don't know if I could do anything against them as they have not offered the possession as of now. I don't remember if there is any penality clause.

Guys, please suggest what options do I have now? I have paid 95% of money, EDC/IDC, PLC and enhanced EDC.

Guide me, plz

[shilpi21]

We at BPTP THE RESORT have a different problem to face.
BPTP has revised (downwards) the interest calculated on Enhanced EDC and their original EDC also appears OK.
But we have serious issue with IDC amount .
In their Red Herring Prospectus they have stated IDC amount Rs 13 million for gross area (i.e. 10.63 acres) which comes out to be Rs 12.23 Lac / acre.And thre status as on Dec 2,2009 is PAID , hence no interest to be charged.
But in there demand for EDC they have asked IDC as 25 Lac/acre and calculated interest also on IDC.
Even after several communications they are keeping mum over this IDC issue.

DR NAVNEET BHATNAGAR