MALABAR PLANTATIONS Vs. THOTTAKAD ESTATE PVT.LTD.

JUDGEMENT

(1.) The plaintiffs in a suit for the realisation of money are the appellants.

(2.) O.S.No.50/1999 on the files of the Sub Court, Thalassery, was filed claiming an amount of Rs.27,14,349.00 with interest from the defendants. Plaintiffs contend that the defendants sold the plaint schedule item No.1 measuring 143 acres and 31 cents to the plaintiffs as per Ext.A3 sale deed for a total consideration of Rs.270.00lakhs, at an average price of Rs.1,88,400.00 per acre. After the sale, the plaintiffs discovered that, as regards 7 1/2 acres shown as item No.2 in the plaint schedule, the defendants had no title or possession, and that the defendants had misrepresented that the entire item No. 1 was sold to the plaintiffs.

(3.) The defendants resisted the suit and also preferred a counterclaim for Rs.4,45,000.00. The defendants, opposing the plaintiffs' contentions, contended that the property was sold for a consideration of Rs.270.00 lakhs, though initially Rs.277.00 lakhs was fixed, and it is only after the second defendant gave all information regarding the properties and the litigation in respect of 7 1/2 acres that the consideration was reduced. The defendants contended that the plaintiffs sought to conceal the litigation regarding 7 1/2 acres, as they were trying to obtain a loan from the bank showing the entire property. It is towards conducting the said litigation that Rs.7.00 lakhs was deducted from the fixed consideration. Thus, contending that the plaintiffs have not suffered any loss and that they were made aware of the litigation with respect to the property, they prayed for dismissal of the suit. The defendants also contended that they lost interest due to the delayed payment of consideration by the plaintiffs and that the value of a building, which the plaintiffs did not give, was claimed as a counterclaim along with interest and was computed as Rs.4,45,000.00.