BACTRA PROPERTIES P LTD Vs. MRUDULA K AJMERA

JUDGEMENT

(1.) THIS is plaintiff's motion, seeking reliefs of Receiver and injunction in respect of property bearing plot No.4, Survey No.17 admeasuring 607.50 sq. meters and 389.50 sq. meters situated at Marol Military Road, Marol, Andheri (E), Bombay-59.

(2.) SUIT is filed for specific performance of Memorandum of Understanding dated 31.1.1995 with modification regarding mode of payment. As per plaintiffs, plaintiffs have paid Rs.11 lakhs as earnest out of total consideration of Rs.1,91,00,000/-. One of the terms of the agreement was that balance of Rs.1,80,00,000/- was to be paid within 1 week from the grant of permission under section 269UC of the Income Tax Act. Plaintiffs have come with the case that there was variation of the said term and parties orally agreed that the balance amount of Rs.1,80,00,000/- was to be paid by monthly installments of Rs.10 lakhs each after receipt of commencement certificate.

(3.) DURING the course of hearing, defendants have given suggestion that of plaintiffs pay balance of Rs.1,80,00,000/- to defendants or deposit in the Court, defendants are ready to execute the conveyance. Plaintiffs have not accepted the said offer.