JUDGMENT :

M.Y. EQBAL, J.

Leave granted.

2. This appeal by special leave is directed against the judgment and order dated 1.3.2012 passed by the High Court of Karnataka whereby Regular First Appeal No.265 of 1999 filed by the defendant-respondent was allowed and the judgment and decree passed by the trial court in the suit of the appellant-plaintiff was set aside.

3. The facts giving rise to the present appeal are that the respondent-first defendant is the absolute owner of 1/3rd undivided share in the property bearing no.43, Mission Road, Bangalore (hereinafter referred to as the ‘suit schedule property’) and his elder brother-second defendant is his power of attorney holder. It is the case of the plaintiff that on 25.6.1979, the second defendant-respondent as registered power of attorney holder entered into an agreement to sell 1/3rd share in the suit property to the appellant-plaintiff for consideration of Rs.40,000/-and received advance of Rs.5,000/-. As per the aforesaid registered agreement, the balance consideration was to be paid on or before 30.12.1980 and the parties to the agreement had to take necessary steps for obtaining permission from the competent authority under t