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Elitelinkinsofts was failed to complete Website development as per the agreement

Complaint Details: 
My self as Mr.Venkata Ramesh Avuthu and my partner Mr.T.Ramakrishnareddy.We have given a b2b protal web site develeopment project to Elitelinkinsofts ( based on just dial reference. Elitelinkinsofts reprasentative Mr.Y.Nikhil Kumar Reddy.Both the parties were signed on the agreement on 21/08/2013. Project value is Rs.1.5 lacks and duration is 2 months.Payment terms are 66% advance and remaining 34% will be after completion of the project/At the time of delivery. Based on the agreement we have paid 66% amount Approx Rs.100000/- with 2 two installments September 5th,2013 Rs.75000/- and October 17th,2013 Rs.25000/-As per Agreement. Elitelinkinsofts was failed to complete the project till date.As per the agreement if the project was not completed/Droped elitelinkinsofts have to return 1.5lacks to client. On march 17th,2015 Mr.Y nikhil kumar was given belleow mail conversion. Dear Sir, As we discussed in phone, you told that We have taken quotations from other companies they are ready to complete the project in 35-45 days. For that i have to pay half amount that is 75,000/- in three installments. So that we can cancel our agreement. That is what we have discussed in phone. As per that i am ready to pay the first installment. And.And second installation will be done according to the project update..... we are not able to understand why we have to give project updates to him. Still Mr.Nikhil kumar Reddy was not interested to complete the project and not interested to close the agreement.
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