JUDGMENT :

Uday Umesh Lalit. J.

Leave granted.

2. This appeal is directed against the judgment and order dated 25.07.2018 passed by the High Court of Delhi at New Delhi in Regular First Appeal No. 876 of 2016.

3. The appellants had booked a residential plot whereupon a villa was to be constructed by the respondent in a project called "Cloud-9 Hill Town" in village Khabrar, Ramgarh, District-Nainital, Uttarakhand. An agreement in that behalf was executed on 14.04.2004 in terms of which the total consideration for the villa was Rs. 15,65,000/- and the villa was to be completed within 30 months. Later, sale deed in respect of the plot was registered in favour of the appellants on 14.05.2004. According to the appellants they had secured loan to the tune of Rs. 13,30,000/- from a bank and had paid all the installments as and when they were due. On or about 03.10.2007 the appellants received a demand notice for payment of balance consideration of Rs. 5,13,850/- together with interest @ 24%. The amount of Rs. 5,13,850/-was tendered by the appellants on 12.10.2007 but the cheque was returned by the respondent.

4. Thereafter, a statement of accounts was prepared by the respondent which reflected