1. Plaintiff is a society registered under the H.P. Co-operative Societies Act 1968, which carries on its business. Defendant is also a corporate body, the prime object of which is to provide facilities of residential and commercial facilities to the general public. Pursuant to the visit of the Chief Minister of the State the defendants initially agreed to allot plot No. 7 in Sector 2 in the Industrial Estate located at Parwanoo, measuring 17, 376 square metres @ Rs. 20/- per square metres valuing Rs. 3,47,520/-, though later on finding the actual measuring to be 16,135.6 square metres, its price was reduced to Rs. 3,22,713/- instead of the original price. The plot was allotted and possession thereof was handed over on 1-12-1976. 10% of the permium out of the total price of the aforesaid plot was paid on 30-11-1976 before the delivery of its possession on the following date. Remaining balance premium was agreed to be repaid in 15 instalments along with the interest calculated @ 9% per annum. One of the conditions was that in case of default of payment of the premium instalment or interest, the plaintiff would pay penal interest at double the rate of prevailing interest to the