Reccovry of advance amount of agreement of villa
Querist :
Anonymous
(Querist) 30 October 2024
This query is : Resolved
Sir,
1.I had entered an agreement for purchase of villa and paid 5L. as advance and it was drafted by seller.
2. If seller is defaulter then seller has to pay 5L as penalty in addition with advance amount.
3. Sale deed was not successful and I had filed the case at Trail Court.
4.The trail court decree and ordered to pay 5L advance and 5L penalty amount with 12% compound interest till realisation.
5.Seller was stayed at HC. that villa was sold out at lower than my agreement consideration value and why Penalty shall pay.
6.Now almost 10years lapsed. and it's now Final hearing stage. Only Advance amount and court fees has been deposited as per directions.
7.Whether this kind of agreement is no consequences in Indian Law.? Is it true.
since rupee value is almost 3.05 times more based on gold price as standard calculations. And there is no LD clause mentioned and Penalty amount is fixed.
As per SC guidance if penalty amount is fixed than not more than penaltie. Agreement is verified by notary and Trial court admitted and also Judgement order issued.
Regards.
T. Kalaiselvan, Advocate
(Expert) 30 October 2024
You have already got the judgment in your favor through the trial court.
As the defendant has approached the appellate court with an appeal you may have to wait for the appellate court to dispose the case.
The defendant has rights to prefer an appeal against the aggrieved judgment, hence better don't think it from your angle alone, you have to follow the procedures of law once you have approached court of law for remedy
