R.BANUMATHI, R.MALA
M/S. United Spirits Ltd. , Rep. by Mr. Mahesh Nedungadi Senior General Manager Legal authorized signatory and power of attorney – Appellant
Versus
M/s. Paramount Builders(Chennai)Ltd. , Rep. by Chairman and Director M. S. Hameed – Respondent
R.MALA,J.
1. These appeals arising out of the Judgment and decree made in C.S.No.182 of 1999 granting decree for Rs.1,84,17,044.15/- together with interest at the rate of 24% per annum from the date of that Judgment till the date of realisation with costs. The first defendant is appellant in O.S.A.No.251 of 2005 and second defendant is appellant in O.S.A.No.216 of 2005.
2. The gist and essence of averments in the plaint are as follows:
(i) The second defendant is the owner of the property bearing Door.No.166, Thambu Chetty Street, Chennai-1. The first plaintiff and the first defendant had entered into a sale agreement on 13th September, 1995 with the second defendant. The agreed sale price is Rs.2,95,00,000/-. Totally, the first plaintiff has paid Rs.2,10,65,000/- and the first defendant has paid Rs.64,35,000/- on various dates. Since the second defendant is not in a position to execute the sale deed, he gave a letter dated 31.03.1996 agreeing to pay compensation. Since the second defendant has not executed the sale deed, the first plaintiff and the first defendant filed C.S.No.823 of 1996 against the second defendant. During the pendency of C.S.No.823 of 1996, both th
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