SANDEEP VIRMANI & ANR Vs. JAY KUMAR

JUDGEMENT

(1.) The plaintiff has filed a suit for recovery for a sum of Rs.42,20,000/- against the defendant.

(2.) Brief facts of the case are that the defendant is the owner of a residential house bearing no. D-56, Adharshila situated within the residential colony known as Sushant Lok, Phase-II, Gurgaon, Haryana (hereinafter referred to as the "suit property") measuring 170 sq. yards (approximately) by virtue of registered sale deed bearing Vasika No. 4900 dated 16th February, 2005. The defendant entered into an agreement to sell with the plaintiffs on 17th November, 2005 to sell the suit property for a total sale consideration of Rs.32,00,000/- out of which the plaintiffs had paid a sum of Rs.5,00,000/- as earnest money to the defendant. As per the terms and conditions of the agreement to sell dated 17th November, 2005 last date for execution and registration of sale deed by the defendant in favour of the plaintiffs was initially agreed as 90 days from the date of execution of agreement to sell i.e. 15th February 2006.

(3.) It is the case of the plaintiffs that the defendant had taken a loan from M/s G.E.Countrywide, Delhi bearing Loan A/c. No. HDLH 00003569 against the suit property and the original title documents of the suit property were pledged with G.E.Countrywide, Delhi. It was agreed by the defendant that the defendant shall clear the said loan amount and also hand over the original documents to the plaintiffs at the time of transfer of the suit property. It was further agreed that in case the defendant fails to get the suit property registered/transferred in favour of the plaintiffs or their nominee(s)/representatives then the defendant will pay double the amount of advance money which the defendant had received from the plaintiffs as advance/earnest money towards the sale of the said property.