In Brief
A purchaser agreed to buy a property for Rs 45,315 and paid Rs 15,000 as advance in 1978. The agreement required the vendor to obtain regulatory permission within 75 days; if not obtained, the purchaser could claim refund within 90 days. The vendor sought permission but cancelled the agreement in 1982 when it was not granted. The purchaser did not claim refund within 90 days but sued for specific performance in 1984 after permission was finally obtained. The trial court decreed specific performance, but the High Court dismissed the suit. The Supreme Court upheld the High Court's decision denying specific performance because the purchaser failed to claim refund within 90 days as required. However, the Court directed payment of Rs 15,00,000 as compensation instead, treating this as an equitable remedy reflecting the actual advance received and the long delay caused.
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