PRANOTI SUDESH DALVI Vs. SURESH RAGHUVIR PRIOLKAR

JUDGEMENT

(1.) Heard Mr. Y. Nadkarni, learned counsel for the Appellants and Mr. J. J. Mulgaonkar, learned counsel for the Respondents.

(2.) The Appellants are the original defendants and the Respondents are the original plaintiffs in Special Civil Suit No.20/2005/A instituted in the Court of Civil Judge Senior Division, Ponda. For sake of convenience, the parties will be referred to by their description before the Trial Court i.e. the Appellants will be referred to as the defendants and the Respondents will be referred to as the plaintiffs.

(3.) The plaintiffs were owners of an immovable property situated in Ponda, as described in the plaint and shall be hereinafter referred to as the suit property. The plaintiffs entered into an agreement dated 20.11.1996 for development of the suit property with the defendants subject to certain terms and conditions. The defendants were also given authority to mortgage the suit property with Bicholim Urban Co-operative Bank Ltd. (Bank) and to raise loans for development of the suit property.