( 1. ) THE appellants fifed Civil Suit No. 6-B/2001 before the Fifth Additional District Judge, Chhindwara for recovery of Rs. 1,40,000/- with interest. The plaint averments in brief are :-

1. 1. The first respondent is the legal heir of late Smt. Jugnoo Bai, and adjudicated insolvent. A composition scheme was filed by the first respondent before the Insolvency Court for acceptance under Section 38 of the Provincial Insolvency Act, 1920. The Court fixed the matter for consideration of the said scheme on 9-4-1991.

1. 2. The first respondent expecting that the composition scheme would be accepted and that he would be appointed by the Court as the "appointee" (person in whom the properties of the insolvent would vest with power to sell the properties of the insolvent and deposit the proceeds in Court for distribution among the creditors), entered into an agreement to sell the immovable properties of the insolvent measuring 1,63,936 sq. ft. (less lands already sold to others by the receiver) to the appellants herein for a consideration of Rs. 8 lakhs and received Rs. 1,40,000/- as advance.

1. 3. The said agreement was reduced into writing and was duly executed and attested, one we