Refund of amount paid with interest for failure

8. Refund of amount paid with interest for failure to give possession within specified time or further time allowed.-If- 

(a) the promoter fail to give possession in accordance with the terms of his agreement of a flat duly completed by the dated specified, or any further date or dates agreed to by the parties, or

(b) the promoter for reasons beyond his control and of his agents, is unable of give possession of the flat by the date specified, or the further agreed date and a period of three months thereafter, or a further period of three months if those reasons still exist ,

then, in any such case , the promoter shall be liable on demand (but without prejudice to any other remedies to which he may be liable) to refund the amounts already received by him in respect of the flat (with simple interest at nine per cent per annum from the date he received the sums till the date the amounts and interest thereon is refunded), and the amounts and the interest shall be a charge on the land and the construction if any thereon in which the flat is or was  to be constructed, to the extend of the amount due, but subject to any prior encumbrances.

Criminal breach of trust---Promoter of building agreement to construct building and thereafter over flat to petitioner—Promoter unable to deliver possession of flat to petitioner ---Clause of agreement showing that in case promoter fail to give possession than purchaser will be refund money with interest at 10%per  annum---promoter willing to moneys paid by petitioner with not only interest but compensation---Held , charge of criminal breach of trust could not be sustained against such promoter. Pradeep Bhupatrai Vasa v/s Bombay Builder Pvt. Ltd. &other 1978(1) Bom C.R.327

                                                            ********