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Date of Decision: 13th August, 2018
SHAKUNTALA DEVI EDUCATIONAL SOCIETY ..... Plaintiff
Through Mr.Achal Gupta, Mr.Kushagra Sah, Advocates.
Through
JUDGMENT
1. The plaintiff has instituted this suit for recovery of Rs.4,50,00,000/along with interest thereon against the defendant under Order XXXVII Rule 2 of the Code of Civil Procedure.
2. The plaintiff advanced a sum of Rs.2,00,00,000/- to the defendant for being invested in real estate vide Memorandum of Understanding (MoU) dated 15th December, 2011. Vide Addendum dated 24th September, 2012, the defendant agreed to refund the principal amount of Rs.2,00,00,000/- by 14th October, 2012 and the investment benefits of Rs.1,50,00,000/- by 12th December, 2012 to the plaintiff. The defendant also gave two cheques for Rs.2,00,00,000/- and Rs.50,00,000/- to the plaintiff which were dishonored upon presentation. Vide Addendum dated 25th April, 2013, the defendant agreed to pay Rs.2,00,00,000/- positively by 05th July, 2013. Vide Addendum dated 02nd December, 2013, the defendant agreed to pay 2018:DHC:5092 CS(OS) 243-2018 Rs.4,50,00,000/- to the plaintiff against the aforesaid dues by 28th February,
2014. Vide Addendum dated 03rd June, 2014, the defendant again agreed to pay Rs.4,50,00,000/- to the plaintiff. Vide letter dated 16th November, 2014, the defendant proposed to complete the re-payment by 20th January, 2015. Vide letter dated 15th January, 2015, the defendant sought extension for repayment upto 15th February, 2015. Vide letter dated 15th February, 2015, the defendant sought extension for repayment upto 28th February, 2015. During the period 8th March, 2016 to 22nd April, 2017, the defendant paid Rs.1,30,00,000/- to the plaintiff, details whereof are given at page 30 of the documents filed by the plaintiff. The plaintiff is claiming a sum of Rs.3,20,00,000/- (Rs.4,50,00,000 – Rs.1,30,00,000 paid by the defendant). The original Memorandum of Understanding (MoU) dated 15th December, 2011 and the Addendums mentioned above have been placed on record by the plaintiff.
3. The defendant was duly served with the summons under Order XXXVII Rule 2(3) of the Code of Civil Procedure on 05th July, 2018. However, the defendant has failed to enter the appearance.
4. The plaintiff seeks decree under Order XXXVII Rule 2(3) of the Code of Civil Procedure on account of the failure of the defendant to enter appearance within the statutory period.
5. The plaintiff’s suit is decreed for Rs.3,20,00,000/- along with future interest @ 7.5% from the date of this judgment till realization.
AUGUST 13, 2018 J.R.MIDHA, J. dk