JUDGMENT

Jayant Nath, J. - Ia No.12605/2017 in CS(OS)424/2017

1. This application is filed by the defendant under Order 37 Rule 3(5) of The Code of Civil Procedure (hereinafter referred as "CPC") seeking leave to defend.

2. The accompanying suit/plaint is filed by the plaintiff for recovery of Rs.8,00,00,000/- from the defendants alongwith Rs.6,83,49,498/- being interest @ 18% compounded quarterly from the date of payment till the date of filing of the suit. Pendente lite and future interest is also accordingly sought. The case of the plaintiff is that in April 2013 defendant No.2 approached a sister concern of the plaintiff V.K.R. Constructions Private Limited on behalf of defendant No.1 and offered to sell the hotel site No.1 at International Business Bay-2 having FSI area of 1,07,640 sq.ft. alongwith proportionate land area situated at IBB-2, Sushant Golf City, Sultanpur Road, Lucknow. In the course of discussions and negotiations, the said V.K.R. Constructions agreed to purchase the hotel property for a total sale consideration of Rs.6,86,40,000/-. In confirmation thereof, the said V.K.R.Constructions paid to defendant No.1 a sum of Rs.1,00,00,000/- by way of advance/earnest mon