Total consideration cannot be forfeited substantially without establishment of suffered loss

Rajesh Gupta Vs Ram Avtar (Delhi High Court)

Facts- In terms of the Agreement, the petitioner agreed to purchase the manufacturing unit including the built up factory and all movable assets for a sale consideration of ₹1,60,00,000/-. The petitioner paid a sum of ₹60,00,000/- to the respondent. The receipt of the said amount was expressly acknowledged in the Agreement as receipt of ‘earnest money’.

After the parties had entered into the Agreement, the petitioner cla

Please become a Premium member. If you are already a Premium member, login here to access the full content.