M. G. Ravala
Manikyam & Ors. Vs. M.Mada Naik  INSC 170 (25 January 2010)
APPELLATE JURISDICTION CIVIL APPEAL NO. 981 OF 2010 [Arising out of SLP(C)
No.35120/2009] M.G. RAVALA MANKIYAM & ORS. .......APPELLANT(S) Versus
O R D E R
Leave granted. Heard the parties.
The legal heirs of the plaintiff in a suit for specific
performance are the appellants in this appeal by special leave. The respondent
had entered into an agreement of sale dated 25.12.1986 in favour of one M.R.Gopal
of whom the appellants are the legal heirs. As the respondent refused to
execute the sale deed in pursuance of the said agreement, a suit for specific
performance was filed on 19.4.1988. The suit was decreed by the trial Court on
31.7.2001 directing the defendant in the suit to execute the sale deed. The
appeal filed by the defendant was allowed in part by the High Court by the
impugned judgment dated 14.8.2009. The decree for specific performance was set
aside. The High Court directed the defendant to refund the earnest money of
Rs.60,000/- and also pay damages of Rs.5,00,000/-. The said order is challenged
by the legal heirs of the plaintiffs.
When the matter came up today, learned counsel for the appellants
and respondent submitted that the matter has been settled and it has been
agreed that the judgment and decree of the High Court be affirmed subject only
to the modification that the damages payable should be Rs.9,40,000/-(rupees
nine lakhs forty thousands) instead of Rs.5,00,000/-. Thus, the total amount
payable would be Rs.10 lakhs. It is also agreed that the defendant- respondent
shall pay Rs.7,75,000/- within 15 days from today and pay the remaining
Rs.2,25,000/- within three months. If the amount is not so paid, the respondent
shall be liable to pay interest at 18% per annum from this day to the date of
payment on the defaulted amount.
Appeal is disposed of accordingly.
.........................J.( R.V. RAVEENDRAN )