JAMMU DEVELOPMENT AUTHORITY Vs. S. PARAMJEET SINGH

JUDGEMENT

(1.) Leave granted.

(2.) This appeal by the Jammu Development Authority1 takes exception to the judgment dtd. 2/12/2022 passed by the High Court of Jammu and Kashmir and Ladakh at Jammu.

(3.) Respondent no. 1 - S. Paramjeet Singh had participated in a public auction held on 12/4/1999. His bid of Rs.8,30,000.00 (Rupees eight lakhs thirty thousand only) for purchase of plot no. 244, Sector 1/Sector 1A, Trikuta Nagar Housing Colony, Jammu2, was accepted. By letter of intent dtd. 26/5/1999, the JDA had called upon respondent no. 1 - S. Paramjeet Singh to deposit 50% of the premium within 30 days from the date of issue of the letter of intent, and the balance 50% within 60 days thereafter. In case of default beyond six months, interest at the rate of 18% per annum would be charged. Further, on failure, the allotment shall be cancelled, and the earnest money and the first installment shall stand forfeited.