Answered question

Dear Sir, I would like to have your advice on IBC as an individual home loan applicant and buyer in a project, where there is a delay of more than 14 months was there by the developer. As a home buyer, when the builder had given offer of possession, I had requested to cancel the unit due to financial distress situation and had not mentioned that this is due to Delay in offer of possession. However I was unaware about my rights of BBA (as it was not available with me), on verbal advice of someone, I had requested for cancellation. Although the reason was incorrect i.e. my poor financial health, but later through legal notice in Feb. 2018, I had demanded the same with refund, which was refused by builder. Kindly let me know, if my letters will be against me (as defend from builder side), although I have the evidences to proof that BBA was received by me from Developer on 22nd Feb 2018 and my account is not yet NPA with HDFC Bank, which Indicates that I am paying regularly. FYI, The property is in Faridabad and Developer registered office in in Delhi. Appreciate, as a subject matter expert, needs your advice, that if I file an application of pray under IBC, will it be a successful on the grounds. At this stage I am not able to take a decision. Request you to please advice.