Can we make an application to deposit money with court in a
lalit
(Querist) 28 September 2015
This query is : Resolved
I entered into an written agreement to buy a property for 20lakhs with furniture fixture and renovation of bathroom & toilet. The written agreement was mutually rescinded before execution. Seller returned the cheque.
After few months, I again entered into an oral agreement for same property with conditions different then the rescinded written agreement. The amount was fixed at 16 lakhs without renovation / furniture and fixture.
Seller executed deed of conveyance but later started dilly dallying to get the deed registered and hand over physical possession of the property.
I approached court for specific performance of contract.
Other party in w/s claimed that there was only one agreement (referring to written agreement) and that has expired. He denies having an oral agreement.
He however has not denied executing the deed of conveyance, but is saying it was returned by registrar for anomaly in market valuation and he had no intention to fail in execution of deed.
Court granted injunction on transfer of property till disposal of suit.
Hearing of suit is yet to begin.
I want to deposit the entire consideration agreed in deed with court as I fear that at a later stage court may out of sympathy pass an order to pay interest and it will be an additional burden as money is kept in current account where it does not earn interest.
I have got different views from friends on this issue.
Few say deposit it with court, as it will prove your bonafide and you won't be asked to pay interest when decree is awarded.
Few say don't deposit as it will get stuck, as case may linger.
Shall I deposit the money with court?
If yes, then how? What application do I need to file ? What if lower court refuses to accept my plea to accept money deposit?
lalit
(Querist) 28 September 2015
It would be pertinent to mention that even the deed was executed within a period before expiry of the date mentioned in written period.
I am willing to deposit an extra amount of 4 lakhs, (difference amount in both agreements 20l- 16l) as security with court.
lalit
(Querist) 28 September 2015
It would be pertinent to mention that even the deed was executed within a period before expiry of the date mentioned in written agreement for sale.
I am willing to deposit an extra amount of 4 lakhs, (difference amount in both agreements 20l- 16l) as security with court.
R.K Nanda
(Expert) 28 September 2015
query too long.
lalit
(Querist) 28 September 2015
Because I wanted to give a full view
lalit
(Querist) 28 September 2015
I look forward to view of learned ones.
P. Venu
(Expert) 28 September 2015
You are chasing inchoate notions unknown to law.
lalit
(Querist) 29 September 2015
Thank you nanda sir and venue sir
T. Kalaiselvan, Advocate
(Expert) 03 October 2015
You do not have to deposit the balance of sale consideration amount with the court at this stage where the trial proceedings is going on and no decision has been given by the court. The expression of your willingness to perform your part of contract by paying the balance of sale consideration amount will be sufficient to prove your intention before the court. The procedure to withdraw the deposited amount from court will be a cumbersome process hence do not do that mistake.
lalit
(Querist) 29 October 2015
Thank you kalaisevan sir
