AJAY KOHLI Vs. ANSAL PROPERTIES & INDUSTRIES LTD

JUDGEMENT

(1.) PLAINTIFF Ajay Kohli, sole proprietor of M/s Swaran Kosh has filed the present suit for recovery of Rs.58,07,688.00 of which Rs.39,19,200.00 is the principal amount and the balance is the interest claimed @ 18% per annum.

(2.) PLAINTIFF is a liaison and property consultant working under the name and style of M/s Swaran Kosh. Defendant M/s Ansal Properties & Industries Ltd. is a company incorporated under the Companies Act. Amongst other business, defendant company has also constructed the shopping complex known as Ansal Plaza, Andrews Ganj, New Delhi.

(3.) PLAINTIFF negotiated a deal of 10,000 sq.ft. area with the Jammu & Kashmir Bank Ltd.(hereinafter referred to as the Bank) at Ansal Plaza Hudco Complex, Andrews Ganj, New Delhi With his efforts he was able to conclude the deal for Rs.12 crores. The efforts of the plaintiff were recognized by the defendant in their letter dated 3.10.1997. Deal was finalized in December, 1997 itself, yet paper formalities were not completed. On 19.12.1997 this was conveyed by a letter sent by the defendant to the plaintiff appointing him as his agent for future deals upto 31.12.1998.