ROOPAK MALIK &ANR Vs. DARYAO SINGH DAHIYA

JUDGEMENT

(1.) The present suit is filed seeking various reliefs. Learned counsel for the plaintiffs submits that the plaintiffs confines the relief as stated in para 16(b), namely, a decree in favour of the plaintiffs and against the defendants jointly and severally for a sum of Rs.4.2 crores with interest at 18% per annum.

(2.) The case of the plaintiffs is that the plaintiffs are exclusive owners of Flat No. HI A021, Second Floor, Block-A, having a super built up area of 263.95 sq.mt. along with covered/open parking space located at Westend Heights, Phase-V, DLF City, Gurgaon, Haryana(herein referred as "the said property"). A conveyance deed was executed by the original owners M/s. Nilgiri Cultivators Private Limited in favour of the plaintiffs on 11.05.2007.

(3.) Acting on the representations and offer made by the defendants and also keeping in view the medical condition of plaintiff No.1 the plaintiffs took interest in an exchange scheme offered by the defendants and agreed to sell their said property located at Westend Heights and entered into an Agreement to Sell on 31.07.2013 with defendant No.6 whereby plaintiffs sold the said property for a total consideration of Rs.4.2 crores. It was agreed between the parties that the said Agreement to Sell would be in force and the defendants would invest the sale consideration on behalf of the plaintiffs in the upcoming Manhattan Business Suites i.e. the said project being developed by the defendant No.6. Plaintiff executed a Sale Deed on 06.09.2013 for sale of the plaintiff's property being Flat No. H1 A021, 2nd Floor, Block A, Building No. 1, Westend Heights, DLF City, Phase V, Gurgaon, Haryana in favour of defendant No.6 where a consideration of Rs.1.3 crores was stated. It is stated that the sale deed was executed at the Circle Rate on the insistence of defendant No.6. The sale amount on receipt was transferred back to defendant No.6 by the plaintiffs by four separate RTGS payments. Pursuant to the above, the parties entered into eight Developer Anchor Agreements. In terms of the eight Developer Anchor Agreements, the sale consideration received by the plaintiff was invested in 7636.36 sq.ft. space at Rs.5500 per sq.ft. in the name of plaintiffs No.1 and 2 individually in the Manhattan Business Suites Project. The plaintiffs were also assured of a monthly return of Rs.4.2 lacs less TDS, under the aforesaid allotments. Hence, it is the case of the plaintiffs that they have paid a total of Rs.4.2 crores for allotment of 7636.36 sq.ft. in the said Manhattan Business Suites Project which has till date not materialised. It is also pointed out that Defendant No.7 had issued monthly PDC's (post dated cheques) in the name of the plaintiffs as per the Assured Return Agreement for the period 06.09.2013 to 05.09.2018 i.e. a total of 61 post dated cheques each amounting to Rs.94,500/- which were issued by defendant No.7. The plaintiffs and defendant No.7 have also entered into an Addendum to each of the Developers- Anchor Agreements. It is also pleaded that for the first five months, namely, from September 2013 till March 2014 the cheques given by defendant No.7 were duly honoured. Subsequent to five months none of the cheques have been honoured by the defendants. The plaintiffs have also not received possession of the assured built up space which was agreed upon. Hence, the present suit for recovery of Rs.4.2 crores.