JUDGMENT

(Prayer: Civil Suit filed under Section Order IV Rule 1 of O.S. Rules read with Order VII Rule 1 of CPC., praying for a judgment and decree against the defendants :

(a) for a sum of Rs.1,00,00,000 (Rupees one crore) claimed and further interest at 18% p.a., from the date of the plaint till realization.

(b) to award the costs of the suit.

(c) To pass further order that may deem fit in the circumstances of the case.)

1. The suit is filed for recovery of a sum of Rs.1.0 crore paid as advance amount by the plaintiff to the defendant under a Memorandum of Understanding dated 23.04.2008, with future interest at 18% per annum.

The Pleadings:

2. The case of the plaintiff is follows:

* The plaintiff is a Private Limited Company engaged in the business of promoting multi-storeyed apartments and villas. It is headquartered in Mumbai. It proposed to expand its activities in Kerala, and was scouting for suitable lands there.

* The defendant is also a company registered under the Companies Act, with its registered head office at Chennai. It owns lands measuring 6.56 acres at Mamally, Feroke near Calicut. It has nominated M/s Wisma Project Management Services, another