JUDGMENT

Ravi Krishan Kapur, J. - This is a suit for recovery of money.

2. The disputes by and between the parties arise out of an agreement dated 31 July, 2014, for purchase of an Aqua Golf Villa, Phase-I situated at Vedic Village at Kolkata (the premises).

3. Pursuant to an agreement for sale dated 31 July, 2014, the petitioner paid Rs.72,50,000/- to the respondent no.1. The respondent no.1 duly acknowledged receipt of the same. The agreement also guaranteed return of interest @ 18% per annum compounded annually, in case the respondent no.1 failed to deliver possession of the premises to the petitioner within 24 months. The last date for handing over possession of the premises expired on 31 July 2016. The respondent no.1 was unable to deliver possession of the premises to the petitioner. The respondent no.1 also failed to return the money.

4. Thereafter, diverse negotiations took place by and between the parties. Ultimately, in or about September 2020, the respondents agreed to transfer 15 cottahs of land inside Vedic Village within three months upon the petitioner completing the due diligence of the proposed land. Subsequently, it transpired that the proposed land to be transferred