SANJAY AGRAWAL Vs. BEEKALANE FABRICS P LTD

JUDGEMENT

(1.) The suit is filed for specific performance of a MOU / Agreement dated 14.2.2005 entered into between the Plaintiff and the Defendants. The Notice of motion is for the usual reliefs for the appointment of a Court Receiver and injunction in a suit for specific performance.

(2.) Defendant No.2 is the Managing Director of Defendant No.1. By the said MOU, the first Defendants agreed to transfer / sell to the Plaintiff the leasehold plot admeasuring 6150 sq. meters at the Taloja Industrial Area, MIDC, Tal: Panvel, for a total consideration of Rs.87,00,000/- . Pursuant to clause 2 of the Agreement, part payment of Rs.21,75,000/-was made on the signing of the said Agreement. Under clause 9 of the Agreement, the balance amount was payable on or before registration of the documents and possession being handed over by the Defendants to the Plaintiff.

(3.) The execution of the Agreement is admitted. The receipt of the part payment of Rs.21,75,000/- is admitted. The Plaintiff by his letter dated 12.10.2005 stated the above facts and that despite repeated requests, the Defendants had failed to do all things necessary for implementation of the said agreement.