R. Subbiah, J.

1. The appellants herein are the defendants in O.S. No. 30 of 2010 on the file of Principal District Court, Erode. The said suit was filed by the plaintiff/respondent herein for specific performance of the agreement of sale dated 15.02.2009, marked as Ex.A1. By the Judgment and Decree dated 05.07.2012 passed in the said suit, the Court below, while dismissing the suit for specific performance of the agreement dated 15.02.2009, directed the defendants/appellants herein to repay the sum of Rs.28,77,000/- to the plaintiff/respondent herein which was received by the defendants/appellants as advance sale consideration, together with interest at the rate of 12% per annum from the date of agreement namely 15.02.2009 till the date of realisation and a charge is created over the suit properties standing in the name of the first defendant/first appellant herein for the suit amount. Aggrieved by the aforesaid Judgment and Decree dated 05.07.2012, the defendants have come up with the present appeal.

2. For easy reference, the parties shall be referred to as per their litigative status in the suit as plaintiff and defendants.

3. The plaintiff/respondent herein has filed the suit in O.S. No. 30 of 2010 contending that the defendants/appellants herein have originally entered into an agreement of sale with one Chinnasamy, Son of Sellappa Gounder on 24.12.2008 and another agreement on 07.01.2009 with one Chenniyappa Sridhar, R. Vidhyadhar and Kasi Viswanathan. Based on the above agreements, the defendants were in possession of the suit properties. While so, the defendants have agreed to sell the suit property measuring an extent of 1 acre 75 cents to the plaintiff at the rate of Rs.24,66,000/- per acre, for a total sale consideration of Rs.43,15,500/-. Accordingly, on 15.02.2009, an agreement was entered into between the plaintiff and the defendants. On the date of agreement, the plaintiff has paid to the defendants a sum of Rs.28,77,000/- as sale advance. According to the plaintiff, it was specifically agreed between him and the defendants that the remaining sale consideration of Rs.14,38,500/- will be paid on or before 13.04.2009. It is the case of the plaintiff that he was always ready and willing to perform his part of the contract by paying the balance sale consideration and requested the defendants to execute the sale deed before the agreed date namely 13.04.2009. However, under some pretext or the other, the defendants prolonged the execution of the sale deed. On enquiry, the plaintiff came to know that there is some boundary dispute in respect of the property sought to be conveyed to the plaintiff and when it was questioned, the defendants have sought for some more time to enable them to execute the sale deed. However, even after the expiry of the date fixed for performance of the contract namely 13.04.2009, the defendants did not perform their part of the contract and delayed the execution of the sale deed. In such circumstances, the plaintiff issued a notice dated 01.12.2009 through his counsel calling upon the defendants to receive the balance sale consideration and to execute the sale deed in his favour. In the meantime, the plaintiff came to know that the first defendant, along with one Muthusamy and Kandasamy, has purchased the suit properties and other properties on 29.04.2009, thereby, the first defendant became the joint owner of the suit property. However, even thereafter, the first defendant evaded and avoided to execute the sale deed in favour of the plaintiff. Therefore, the plaintiff has filed the suit for specific performance with an alternative prayer for refund of the advance amount of Rs.28,77,000/- with interest at the rate of 18% per annum.

4. The defendants have filed a written statement and resisted the suit filed by the plaintiff. In the written statement, the defendants have admitted the execution of the agreement of sale dated 15.02.2009 with the plaintiff and the receipt of the advance amo