I have a query regarding the builder's action in Purva Venezia, Bangalore.

This project has been delayed for quite some time and the builder was supposed to give compensation as detailed in the agreement. But the builder is resorting to certain means to avoid this.

One of the clauses in the agreement was that this compensation will be paid only if all payments were made on time. If the due date was 15th and if someone paid a cheque on 15th, Puravankara is treating this as late payment since the cheque takes atleast a day to clear.

My question is whether this is correct? They give receipts saying that payment was received on 15th, but cheques are subject to realization.