RAJENDRA SAXENA Vs. SHARDA RATNAM

JUDGEMENT

(1.) By this Notice of Motion, the Plaintiffs herein have sought following reliefs:-

(2.) The dispute in the present case is in respect of a flat being Flat no.1002, 10th Floor, Varsova CHSL, Flat No.1002, RDP-II, MHADA, SVP Nagar, Varsova Andheri-West, Mumbai. The said flat shall be hereinafter referred to as the suit flat.

(3.) The Defendant No.1, who is the owner of the suit flat had entered into a Memorandum of Understanding (MoU) dated 11th March, 2011 with the Plaintiffs herein for sale of the suit flat for a total sale consideration of Rs.1,20,00,000/-. The Plaintiffs claim that they have paid a sum of Rs.1,06,50,000/- towards part consideration, leaving a balance of Rs. 13,00,000/. The Plaintiffs have averred that they were and are ready to pay the balance amount and perform their part of the contract. The grievance of the Plaintiffs is that the Defendant No.1 did not comply with the terms and conditions of the MoU within the stipulated time and further terminated the agreement/ MoU vide letter dated 16th November, 2011 alleging nonpayment of consideration and compliance of the terms and conditions of the MoU. The Plaintiffs therefore filed a suit seeking a declaration that there is a valid and subsisting agreement for sale by way of memorandum of understanding (MoU) dated 11/3/2011 between the Plaintiffs and the Defendant No.1 for sale of the suit flat and that the purported termination of the MoU by the Defendant No.1 is bad and illegal. The Plaintiffs have also sought for an order and decree against the Defendant No.1 for specific performance of the MoU dated 11/3/2011 by handing over possession of the suit flat on receiving balance consideration of Rs.13,50,000/-.