In april 2003 I bought time share of Averina Beach Club, Goa through their marketing agency Destination Resorts India Pvt. Ltd. for 33 years (Alternate year membership). The consideration was to be paid partly upfront and partly in 48 monthly installments.
During their presentation Destination Resorts did not inform me that the membership was for the blue season i.e. the monsoon period when nobody wants to visit goa. After making payment of the upfront amount and 12 monthly installments I can to know about this fact. I stopped making payments of my monthly installments and contacted the company to refund my amount (after deduction of admin charges).
The company refused to refund my amount citing that according to the agreement the refund could be granted only within 7 days from the date of agreement. The company constantly pressed for making payment of the installments and also offered me alternative plans to lure me into making payment. They also threatened to confiscate my amount if I did not pay up my monthly installments. I brought to their notice that the same agreement neither provides for confiscation of any amounts nor does it provide for any time frame in which the 48 monthly installments have to be paid.
Until then all the correspondence with the company was oral over telephone or in person. Hence I asked them to give me in writting the request for making payment of the installment or confiscation of the amount. Immediately after that the requests for making payments and alternative offers suddenly totally stopped. Till today I have not heard again from the company. My amount is still lying with the company. Once there were many time share companies in the market but now we do not hear anything about them. So where have the time share companies gone.