Real slammed over Milito deal
Real had agreed a deal to sign the highly-rated Argentine stopper and handed Milito a four-year contract.
But after stringent examinations, Real's medical staff claimed Milito would not be able to fulfil his contractual obligations, prompting the Liga champions to pull the plug on the transfer.
The Santiago Bernabeu outfit then requested Milito on a year-long loan deal but were met with a swift rebuttal by Independiente.
The Argentine side are now demanding compensation from Real and have pilloried the behaviour of their Spanish counterparts.
"Real Madrid may have a lot of money but their board members don't have any dignity," fumed Independiente president Andres Ducatenzeiler.
"We had already signed the contract for transferring the player and now they use an internal problem as an excuse for not buying the player.
"So, Independiente are going to make a legal demand against Real Madrid for é¼10 million.
"Real Madrid have failed their own supporters, Independiente and, most of all, Gabriel Milito who, besides being a footballer, is a person and deserves to be respected.
"This is something shameful from Real Madrid and they don't know how to explain it. They offered us to have the player loaned and we refused that chance at once.
"Gabriel Milito is the captain of Independiente, Argentina and is an excellent player."
Independiente are now waiting to see if Real Zaragoza, Atletico Madrid or Paris Saint Germain step up their interest in Milito after the collapse of his dream move to Real.