REPORTABLE

IN THE SUPREME COURT OF INDIA

CIVIL APPELLATE JURISDICTION

CIVIL APPEAL NO. 829 OF 2003

HARYANA FINANCIAL CORPORATION

& ANR.

....APPELLANT(S)

VERSUS

RAJESH GUPTA

…RESPONDENT(S)

J U D G M E N T

SURINDER SINGH NIJJAR, J.

1.

This appeal is directed against the Judgment and Order

dated 26.11.2001 in C.W.P.5725/2001 of the High Court of

Punjab and Haryana at Chandigarh.

2.

The respondent had approached the High Court with a

prayer that the order dated September 30, 1998 by which the

Haryana Financial Corporation (hereinafter referred to as the

appellants/Corporation), had forfeited, amount of Rs.2.5

lakhs, deposited by the respondent by way of earnest money,

be quashed. The respondent had also prayed that the

2

appellants /Corporation be directed to refund the amount

illegally forfeited along with interest.

3.

Shorn of unnecessary details, we may notice here only

the relevant facts.

4.

On 8.1.1998, the appellants/Corporation issued an

advertisement for sale of various units, including the

land of M/s. Unique Oxygen Private Limited(hereinafter

referred to as the defaulting unit), Old Hansi Road, Jind.

On 28.