JUDGMENT - J.A. PATIL, J.:---This is a suit for specific performance of contract and possession of the property agreed to be sold. In the alternative, it is a suit for damages. The property in respect of which these reliefs are claimed is Flat No. 3 in building No. 5 of the Colaba Co-operative Housing Society, situate on Sohrab Bharucha Road, Colaba Mumbai. It's carpet area is 1400 square feet. The defendant is the owner of the suit flat.

2. It is the plaintiff's case that under the agreement of sale dated 17-4-1985, the defendant agreed to sell the suit flat to him for a consideration of Rs. 12,50,000/-. The agreement of sale which was reduced to writing contains inter alia the following terms :

i) The payment of earnest money of Rs. 15,000/- to be made by the plaintiff to the defendant on or before the execution of the agreement.

ii) The balance amount of Rs. 12,35,000/- was to be paid by the plaintiff on the society accepting him as its member and on the defendant putting him in possession of the suit flat.

iii) The defendant was to comply with all the formalities for effecting transfer of shares and share certificates in favour of the plaintiff.

iv) Upon the society issuing a no obj

Click Here to Read the rest of this document