SHARAD CHHAJJURAM AGGARWAL Vs. BOMBAY BUILDERS COMPANY LTD

JUDGEMENT

(1.) Both these ap peals are directed against the same judgment and decree passed by the learned Single Judge of this Court in Suit No. 1053 of 1981. Therefore, both these appeals can be conveniently disposed of by a common order.

(2.) The facts that are material and relevant for deciding these appeals are, Sharad Chhajjuram Aggarwal and Poonam @ Poornima Sharad Aggarwal filed a suit being Suit No. 1053 of 1981, to which the Bombay Builders Company Pvt.Ltd. was joined as defendant No. 1 and Industrial Development Bank of India was joined as defendant No. 2. (The parties will be referred to by their designation in the suit). The plaintiffs claimed in the suit that the plaintiffs entered into an agreement dated 17th May, 1979 with defendant No. 1, which is a company incorporated under the Companies Act. The defendant No. 1 was constructing a building called "Mahendra Towers" on plot of land admeasuring about 3000 sq.ft. situated at 72, Bomanji Petit Road, Cumballa Hill, Bombay 400 026. According to the plaintiffs, by an agreement dated 17th May, 1979 the defendant No. 1 agreed to sell to the plaintiffs Flat No. 903, on the 9th floor of the Building for the total consideration of Rs. 2,90,000/-.

(3.) The plaintiffs, in this situation, filed a civil suit. In the civil suit by prayer Clause (a) they claimed a decree of specific performance of the agreement dated 17th May, 1979 against both the defendants. By prayer Clause (b) in the alternative a decree for damages is claimed only" against defendant No. 1. It appears that though the defendant No.