MALIK BHUPINDER SINGH Vs. RAJ GUPTA

JUDGEMENT

(1.) THIS suit was filed by the plaintiffs for recovery of Rs. 32,18,800/- on account of balance price with interest @ 18% per annum till realization. The plaintiffs had agreed to sell their shares in the property bearing No. 43, Rajpur road, Civil Lines, Delhi to the defendants and at the time of execution of the agreements to sell, after receiving major part of the sale consideration, the possession of the property was handed over to defendants. A small part of the sale consideration in each agreement to sell pertaining to each plaintiff remained unpaid, which was to be paid at the time of registration of the sale deed. The balance sale consideration of all the plaintiffs, according to the plaint, was Rs. 12. 50 lac. The sale deeds were to be executed within three months of the agreements to sell executed on 22nd April 1985. Plaintiffs alleged that though the plaintiffs were prepared to execute the registered sale deed in favour of the defendants, but defendants did not pay the balance price and did not execute the agreement to sell. The allegations made by the plaintiffs in the suit were denied and the defendants took the stand that it were plaintiffs who did not come forward for execution of the sale deed since the plaintiffs had failed to comply with several conditions of the agreement.

(2.) THE counsel for plaintiffs made a statement in the Court on 20th July 2005 that plaintiffs were still ready and willing to receive the payment of rs. 12. 5 lac and would be willing to execute the sale deed and transfer of properties to the defendants. The counsel for defendants also expressed willingness of defendants to this proposal and both sides sought an adjournment for settlement. However, no settlement could take place between the parties and this Court observed that as there was no dispute on the facts and the plaintiffs were ready and willing to perform their part of the contract and execute the sale deed subject to payment of principal amount with interest and defendants were also willing to have specific performance completed in their favour and willing to pay Rs. 12. 5 lac i. e the balance consideration without any interest, the only issue which arose was :-

(3.) PARTIES were asked to address arguments on this issue. During arguments, counsel for defendants submitted that defendants were prepared to pay the additional amount of Rs. 2 lac, or such reasonable amount, as may be fixed by the Court but not the interest @ 18% per annum as claimed by the plaintiffs, if the plaintiffs were prepared to execute the sale deed but this amount would be paid only at the time of execution of the sale deed and not before, in presence of the Registrar.