Alliance Orchid springss is demanding 24% Interest for the delays made by the Bank.
During each phase of payment Alliance keeps silent and they do not collect the 24 % interest at that time,Finally during handover they push all the interest incurred due to delay in payments to the customer.
Should the customer bear all these interest,We have gone for loan in the Bank who has approved their project.So Alliance need to bear all the delays,why are they pushing the interest incurred due to delay in payments to the customer.
Can some one explain legally and give us some ideas to avoid paying the interest.