A purchaser party paid Rs.50 lacs as an earnest money for 4 acre land of 2 and a half crore value on an unregistered agreement on Rs. 200 stamp paper which was to be executed before 30th October 2011. The purchaser could not arrange rest of the money so agreement couldn.t be executed. They wre served with the notice thrice in one year to fulfill the terms of the agreement otherwise their earnest money would be forefieted but they kept on responding to the notices as they couldnot go ahead as the seller was actually not ready for the sale. They have demanded their earnest money back without any litigation and have got the possession forcifully as in agreement , it was mentioned in agreement that the possession has been transferred to the purchasers.The seller is still ready to go acording the terms of the agreement but the purchasing party want to grab the land under umbrella of the agreement. What is the advice for the seller.
