9911796707
TMI Blog2013 (1) TMI 414X X X X Extracts X X X X X X X X Extracts X X X X ..... to August 30, 2012. In this case, the agreement was entered into between the parties on July 1, 2012 and by the mail of July 4, 2012, the petitioner evinced her desire not to go ahead with the transaction. Indeed, the petitioner unilaterally offered the deduction in terms of Clause 11 of the agreement though it would have been understandable for the petitioner even to require a reconsideration of the matter since the termination followed within the days of the execution of the agreement. The company has no defence to the claim and none has been indicated either in the reply to the statutory notice or in the affidavit filed on its behalf - the principal sum of Rs. 9 lakh together with interest thereon at the rate of 15% per annum from Jul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... property and the seller was unwilling to perform its part of the bargain. Clause 11 of the agreement provided as follows :- "11. If the BUYER fails to pay the amount as mentioned in point 3 above to the SELLER within 30th August, 2012, (including grace period of TEN days) then the agreement will be cancelled and the SELLER will refund the entire amount after deducting Rs. 5,00,000/- (Rupees Five Lacs Only) as compensation charges." 4. The petitioner issued a further mail on July 5, 2012 calling upon the company to immediately refund the deposit. Some correspondence was exchanged between the parties thereafter which may not be relevant in the present context. 5. The statutory notice was issued on July 14, 2012 to which the company repl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has been indicated either in the reply to the statutory notice or in the affidavit filed on its behalf. 9. CP No. 270 of 2012 is admitted for the principal sum of Rs. 9 lakh together with interest thereon at the rate of 15% per annum from July 5, 2012 till payment. If the entire amount, inclusive of interest and costs assessed at 2000 GM is paid over by the company to the petitioner within a week from date, the petition will remain permanently stayed. In default, the petition will be advertised once in The Statesman and once in Bartaman. The advertisements should indicate that the matter will appear before Court on the first available working day after the expiry of four weeks from the date of the publications being made. Publication in t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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