The petitioners filed O.S.No.739 of 2007 in the Court of X Additional District and Sessions Judge (Fast Track Court) Ranga Reddy District at L.B.Nagar, against the respondent, for the relief of specific performance of an agreement of sale, dated 19.05.2004, and tripartite agreement, dated 11.04.2005.

Briefly stated, the case of the petitioners was that, the 1st petitioner entered into an agreement, dated 19.05.2004, with the respondent for purchase of two Flats, bearing Nos.401 and 402 of NCL Homes, Krishna Apartments, Madhapur, Ranga Reddy District, for a consideration of Rs.40 lakhs, and out of it, a sum of Rs.20 lakhs was paid, on the date of agreement itself. It is stated that, on account of certain developments, the parties could not adhere to the commitments and an understanding was arrived at between the 1st petitioner and the respondent to the effect that the latter may sell one flat, and execute the sale deed in respect of the other. Accordingly, the respondent is said to have executed a sale deed, on 05.01.2005, in respect of Flat No.402, in favour of third parties. Therefore, the 1st petitioner intended to transfer his rights in respect of the other flat in fav