MOHIT BHARANY Vs. GREENTECH IT CITY PRIVATE LIMITED

JUDGEMENT

(1.) This is a suit for recovery of money.

(2.) The disputes by and between the parties arise out of an agreement dtd. 31/7/2014, for purchase of an Aqua Golf Villa, Phase-I situated at Vedic Village at Kolkata (the premises).

(3.) Pursuant to an agreement for sale dtd. 31/7/2014, the petitioner paid Rs.72,50,000.00 to the respondent no.1. The respondent no.1 duly acknowledged receipt of the same. The agreement also guaranteed return of interest @ 18% per annum compounded annually, in case the respondent no.1 failed to deliver possession of the premises to the petitioner within 24 months. The last date for handing over possession of the premises expired on 31/7/2016. The respondent no.1 was unable to deliver possession of the premises to the petitioner. The respondent no.1 also failed to return the money.