1. The defendant in a suit for money is the appellant. The parties are referred to by their status in the suit.

2. The plaintiff is a Limited Company. M/s. Sree Ananth Refineries Ltd. is a sister concern of the plaintiff. The plaintiff had availed an open cash credit facility and a vehicle loan from the defendant Bank. M/s. Sree Ananth Refineries Ltd. had availed an open cash credit facility and a term loan from the defendant. There were defaults in the repayment of the loan accounts. The plaintiff owned 9.869 cents in Sy.No.2307, with a three - storeyed building in Ernakulam Village. An agreement was entered into between the plaintiff and the defendant on 31/01/2000, for the sale of the property to the defendant. The time fixed for completion of the sale was 6 months. The 1st and 2nd floors of the building were in possession of the State Bank of Travancore, who wanted time till the end of the year 2000 to vacate the building. The time for completion of the sale was extended to 31/12/2000, and the same was endorsed in the agreement. The sale consideration fixed was Rs.220 lakhs. According to the plaintiff, Rs.170 lakhs out of the said amount were agreed to be adjusted towards the li