In Brief
The Supreme Court addressed a dispute over specific performance for the sale of a shop. The buyer (respondent) and seller (appellants) agreed on the sale on 9 November 2007 for Rs. 26 lakhs, with Rs. 4 lakhs paid as earnest money and Rs. 22 lakhs due by 31 March 2008. When the buyer sued for specific performance, the Court held that he failed to prove readiness and willingness to pay the balance amount, as he produced no bank statements or evidence of funds at the time of filing. The Court set aside the lower courts' decree, but ordered return of the earnest money with interest and allowed withdrawal of the deposited Rs. 22 lakhs with accrued interest.
The lawyer headnote and full judgment text are available to registered users.