JATIN DHILLON & ANR Vs. VIGNESHWARA DEVELOPPERS

JUDGEMENT

(1.) This suit seeks a decree for the recovery of money and damages arising out of breach of contract. The defendant-company had invited applications for allotment of a commercial unit at an Information Technology Park, which was being developed by the defendant at IMT, Manesar, Haryana, in accordance with the project guidelines sanctioned by the Haryana State Industrial Development Corporation (HSIDC). The defendant had made representations to the effect that it had all requisite authority, rights and interests to construct the said Information Technology Park and thereafter sell, lease out and part with possession of the same in the form of commercial units.

(2.) Based on these representations, the plaintiffs had applied for the allotment of one such commercial unit admeasuring 1000 sq. feet by entering into a 'Developer Anchor Unit Agreement' dated 07.11.2007 with the defendant, under the terms of which the plaintiff would pay an amount of Rs. 41,50,000/- as the full and final sale consideration for the said allotment.

(3.) The plaintiffs had also entered into a 'Developer Anchor Option Agreement Assured Return Plan' dated 07.11.2007 with the defendant, under the terms of which the defendant undertook to provide the plaintiffs an assured return of Rs. 65/- per sq. feet on a per month basis of a Super Area admeasuring 1000 sq. feet for a period of 60 months from the date of the aforesaid agreement.