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TMI Blog2008 (7) TMI 572X X X X Extracts X X X X X X X X Extracts X X X X ..... ry an interest at the rate of 8 per cent p.a. which will be calculated from the date when the abovementioned period expires till the date of payment. - CIVIL APPEAL NO. 4380 OF 2008 - - - Dated:- 15-7-2008 - S.B. SINHA AND DR. MUKUNDAKAM SHARMA, JJ. Ravinder Narain, Ms. Meghalee Barthakur, Akhil P. Chhabra, Subrat Deb and Rajan Narain for the Appellant. Amar Dave, E.C. Agrawala, Mahesh Agarwal, Rishi Agrawala, Amit Kumar Sharma, Ashutosh Garg, Ms. Neha Aggarwal and Gaurav Goel for the Respondent. JUDGMENT Dr. Mukundakam Sharma, J. - Leave granted. 2. This appeal is filed by the appellant challenging the legality of the judgment and order dated 3-7-2006 passed by the Monopolies and Restrictive Trade Practice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r by the appellant. In the meantime by letter dated 19-2-1998 the appellant demanded an additional amount of Rs. 4,21,474.06 from respondent on account of cost of escalation, increase in area, external electrification, fire fighting system and stand-by generators. The said amount was to be paid in four equal bi-monthly instalment of Rs. 1,05,368.52 commencing from 15-3-1998. The respondent did not honour the said demand. Consequently, the appellant cancelled the allotment of the flat vide its letter dated 26-5-1999 and forfeited the earnest money and returned the balance amount due. 4. The respondent sent a legal notice dated 23-5-2001 to the appellant contending that the cancellation of the allotment of the flat was illegal and arbit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the flat and an amount of Rs. 6,600 was for the parking allotted to the respondent. The balance amount i.e., Rs. 9,571 was forfeited by the appellant on account of interest on the delayed payment. 7. On behalf of the learned counsel for the appellant a specific contention was raised before us that the appellant was entitled to forfeit the earnest money in terms of the stipulations in the agreement arrived at between the parties with mutual consent. Learned counsel appearing for the appellant has drawn our attention to the various clauses of the said agreement which empowered the appellant to deduct the aforesaid earnest money. In this connection, reference was made to the provisions contained in clauses 8 and 9 of the said agreement w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in forfeiting the earnest money was legal and justified. 8. Counsel for the respondent, however, refuted the aforesaid position contending, inter alia that the possession was proposed to be given to the respondent on or before 16-6-1996 i.e., within three years from the date of booking, but the said possession was not given even till 1998, therefore, the appellant could and would not have resorted to the power of forfeiture of the earnest money. It was submitted on behalf of the respondent that a sum of Rs. 4,21,474.06 demanded towards cost of escalation, increase in area, external electrification, fire fighting system and stand-by generators was exorbitant. It was also submitted that it is unfair on the part of the appellant to dem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... binding on the Apartment Allottee" in clause 4 of the agreement the company has vested in itself unrestricted power to increase the cost. 11. Coming to the second aspect as per clause 16 of the agreement it was proposed that the possession could be given within three years from the date of booking i.e., by 16-6-1996 but the same was not done even till September 1998 and it is evident from letter dated 22-2-1999 that there was still some time and further work to be done by the appellant to enable it to hand over the possession. As per clause 18 the only option given was that if there is delay in delivering the possession then the allottee would be entitled for refund of entire amount deposited with the appellant but without any interes ..... X X X X Extracts X X X X X X X X Extracts X X X X
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