1. Rule. Rule made returnable forthwith. Heard the learned Counsel for the parties.

2. To state in brief, the petitioner is the owner of certain premises. On 29-10-1983, an agreement was entered into between the petitioner and the respondent No. 1 in respect of the suit premises. As per that agreement, the premises were given to the respondent No. 1 on license on payment of license fee of Rs. 3 lakh per month inclusive of all Municipal taxes. This agreement was to be valid for a period of 5 years. The same agreement also provided that the respondent No. 1 would have an option to purchase the premises within a period of 5 years from the date of agreement. The consideration for sale of the property was to be decided mutually by negotiation. However, the respondent No. 1 made payment of Rs. 1,28,52,000/- to the petitioner as earnest money out