SANJAY PASSI Vs. IQBAL CHAND KHURANA

JUDGEMENT

(1.) This order will dispose of three applications by the parties - I.A. Nos. 9346/2009, 7865/2009 and 15611/2009.

(2.) The suit seeks a decree, for specific performance of an Agreement to sell in respect of 56, Golf Links (hereafter called "the suit property"). The Agreement to sell was entered into with the Defendant Nos. 1 and 2 (hereafter referred to as "vendors"). The salient terms of the agreement were that the total consideration agreed upon was Rs. 100 crores; the entire amount was to be paid by the plaintiff on or before 06.06.2008; concededly, the period could be extended by three months " a facility indicated in clause 2(a). The plaintiff submits having paid Rs.10 crores, to the vendors on 06.12.2007 itself, and paid a further amount of Rs. 5 crores, on 17.04.2008.

(3.) The plaintiff contends about having enclosed a draft letter to the defendant, to be sent to the Punjab National Bank (hereafter referred to as "PNB"), to enable him (the plaintiff) to secure/obtain a loan of Rs.35 crores; it is further stated that on 11.08.2008, the said bank was asked to process the loan at the earliest point of time. The suit further states that a part-payment of Rs. 5 crores was made on 04.09.2008 to the vendors,which implied that the total consideration paid by then was Rs.20 crores. The plaintiff also contends about the PNB having written to him on 09.05.2008, requiring him to submit further documents, for processing the loan application.