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What are the remedies available to a depositor when HUDCO does not repay the deposits on maturity?

April 26, 2017Depositor deposits hudco maturity remedies repay

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What are the remedies available to a depositor when HUDCO does not repay the deposits on maturity?

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Ans. The depositor can file a civil suit for recovery of the amount of deposit. He can also make a complaint to the Consumer Forums set up under the Consumer Protection Act, 1986. The depositor should also bring such cases of the notice of the NHB for taking action against defaulting company under the provisions of NHB Act.