PRALEEN CHOPRA Vs. HONEY BHAGAT

JUDGEMENT

(1.) The present suit has been filed by the plaintiff under Order XXXVII CPC seeking recovery of a sum of Rs.5,26,87,500/- being the amount of two cheques dishonored issued by defendant in favour of the plaintiff together with the interest @ 2.5% per month effective from 16 th February 2014 i.e. the date of intimation of dishonor of the said two cheques till 19 th January, 2017, payable by defendant under a written MOU dated 1st November, 2013, besides interest pendentelite till realization. It is pleaded in the plaint that a Collaboration Agreement for demolition and reconstruction was executed between the plaintiff and the owners of the property built up over Plot No. 47, main North Avenue Road, West Punjabi Bagh (in short the suit property) admeasuring 1365 sq.yds. A general power of attorney was executed in favour of the plaintiff being the Director of M/s. Earthz Urban Spaces Pvt. Ltd. in respect of the plaintiff's shares allocation in the said property based on the Collaboration Agreement dated 18th February, 2008.

(2.) As per the Collaboration Agreement plaintiffs'/ builders' share was entire terrace over and above the entire 3rd floor (of both the wings), 1/4th share of Northern Side driveway, use of common area, facilities and services and proportionate undivided, indivisble and impartible ownership rights in the plot of the land admeasuring 1365 sq.yds.

(3.) Plaintiff entered into an agreement to sell in respect of half portion of the 3rd Floor which was on the right side together with the terrace over the said half portion over the 3rd Floor with other amenities, facilities, utilization and common passage in favour of the defendant for a total sale consideration of Rs.7,31,00,000/-, for which a MOU dated 1st November, 2013 was entered into between the plaintiff and the defendant Ms. Honey Bhagat as the Director of M/s. R.V. Ganga Enterprises and was duly authorized in this respect by a Resolution of the Board of Directors of the company duly signed by Rohit Bhagat and Honey Bhagat.