VERSATILE COMMOTRDE PVT LTD Vs. SATPAL YADAV

JUDGEMENT

(1.) The present suit has been filed by the Plaintiff under Order XXXVII CPC seeking recovery of a sum of Rs. 2 crores along with interest @ 14.25% per annum. The Plaintiff had entered into an agreement to sell dated 14th April, 2013 under which the Plaintiff agreed to purchase the suit property being 53 Bighas and 19 Biswas in the revenue estate of Village Ujwa, Tehsil Najafgarh, New Delhi (hereinafter "suit property"). As per the said agreement to sell, the agreed sale consideration was Rs.4,36,77,081/-. The Plaintiff paid to the Defendant a sum of Rs.80 lakhs as advance/earnest money and thereafter a sum of Rs.1.20 crores /- as part payment of consideration. The further part payment was made in three tranches i.e. vide cheque dated 14th June, 2013 for Rs. 50 lakhs, cheque dated 20th June, 2013 for Rs. 20 lakhs and cheque dated 3rd July, 2013 for Rs. 50 lakhs. According to the Plaintiff, the Defendant was to obtain the No Objection Certificate (hereinafter "NOC") in favour of the Plaintiff at least 15 days before the date of final payment which was 60 days from 14th April, 2013 i.e. 15 days before 13th June, 2013.

(2.) The case of the Plaintiff is that the Defendant failed to obtain the NOC and hence it did not make the payment of the balance sale consideration. On this basis, the present suit came to be filed under Order XXXVII CPC.

(3.) The Defendant filed its leave to defend, and in its application, the case of the Defendant is that the Plaintiff is grossly in breach of the agreement to sell. The Defendant pleads that the NOC was obtained under instructions from the Plaintiff in favour of one Mr. Rishabh Gupta. It is further submitted that in fact the first notice was issued by the Defendant calling upon the Plaintiff to pay the balance consideration. After some correspondence, the present suit came to be filed.