JUDGMENT

Anil Kshetarpal, J. - Defendants-appellants are in the Regular Second Appeal against the judgments passed by the Courts below decreeing suit for refund of earnest money/part payment paid pursuant to the agreement to sell of immovable property.

2. In the considered view of this Court, following substantial questions of law arise in the present case:-

1) What is the meaning of earnest money?

2) Whether the judgments passed by the Courts below are result of mis-application of judgments passed by Hon'ble the Supreme Court in the case of Satish Batra vs. Sudhir Rawal, (2013) 1 SCC 345 and Videocon Properties Limited vs. Dr. Bhalchandra Laboratories, (2004) 3 SCC 711 ?

3. Some facts are required to be noticed.

4. Undisputed facts are that the defendants-appellants entered into an agreement to sell for sale of land measuring 36 kanals 15 marlas at the rate of Rs. 1,50,50,000/- per acre (8 kanals) and received Rs. 60,00,000/- as earnest money/part payment on 24.07.2006 itself. Sale deed was to be got executed and registered on 09.09.2006.

5. Now the disputed facts are plaintiff-respondent company claims that it was always ready and willing to perform its part of the contract and si