JAYESH VINOD TANNA Vs. NAGEES AHMED KHAN

JUDGEMENT

(1.) This Commercial Division Summary Suit is instituted to recover a sum of Rs.6,90,00,000.00 along with further interest @ 12% p.a. from the date of the suit till payment and/or realization.

(2.) Shorn of unnecessary details, the plaintiff's case can be stated as under:-

(3.) Thus the plaintiff called upon the defendant to execute the conveyance in accordance with the terms of MOU and forwarded the draft of the agreement for sale. The defendant again assured to make the payment and, after much persuasion, a further sum of Rs.20.00 lakhs was paid by the defendant to the plaintiff again by cheque bearing No. 745198 drawn on DCB Bank, Bandra (w). Still a sum of Rs.6,90,00,000.00 remained outstanding under the terms of MOU. Eventually, the plaintiff addressed a legal notice calling upon the defendant to discharge his obligation. The defendant neither complied with the demand in the notice nor gave reply thereto. Hence, this suit for recovery of the sum of Rs.6,90,00,000.00 along with further interest based on the MOU.