ICE HOSPITALITY PRIVATE LIMITED Vs. PORUS ADI IRANI

JUDGEMENT

(1.) This commercial division summary suit is instituted for recovery of a sum of Rs.1,10,03,096/- along with further interest @ 10% per annum from the date of the institution of the suit on the basis of written contract and negotiable instrument.

(2.) The material averments in the plaint can be summarized as under :-

(3.) In the aforesaid backdrop, the plaintiff was constrained to terminate the second conducting agreement by notice dated 26th July 2018. The plaintiff attributed the acts of omission and commission on the part of the defendants which led to the closure of the business in the suit premises. The plaintiff called upon the defendants to refund the amount of the security deposit and also pay the compensation of Rs.1 crore, which was stipulated as a reasonable pre-estimate of the damages in the event of breach of the contract.