Supreme Court: Specific performance is an equitable relief granted by the courts in specific situations. Plainly speaking, equity means fairness—Application for recession—The twin inhibiting factors identified above if are to be read as a bar to the grant of a decree of specific performance would amount to penalizing the plaintiffs for no fault on their part; to deny them the real fruits of a protracted litigation wherein the issues arising are being answered in their favour. From another perspective it may also indicate the inadequacies of the law to deal with the long delays that, at times, occur while rendering the final verdict in a given case— held— we are of the view that the trial court should have passed an equitable order while considering the application for rescission. Having regard to the fact that the decree was passed in 1984, we feel that it would be unjust and unfair to relegate the parties to the trial court at this distance of time— For doing complete justice to the parties, we are of the view that it is a case where the purchaser should be directed to pay the land value to the vendors as per the circle rate notified for the residential property in Category A colonies prevailing during November 16, 2011 to January 5, 2012, at the rate of Rs.2,15,000/- per square meter— purchaser shall also be liable to meet the liability arising by way of unearned increase to be paid to the Land and Development Office— He is free to withdraw the amounts deposited by him in the court as per order dated 06.01.2010— It is also ordered that in case the plaintiff does not deposit the amount to be paid to the vendors within three months from today, the vendors shall deposit in court within two months thereafter the amount calculated as per the circle rate referred to above by way of compensation to be paid to the purchaser, and in which event, they shall stand discharged of their obligations under the contract and the decree. In the event of the purchaser depositing the amount as above, the execution proceedings shall be finalized within another one month. CHANDRAMAULI KR. PRASAD, KURIAN JOSEPH, JJ. 2014 II AD (S.C.) 569
Posted on: Mon, 10 Mar 2014 05:35:05 +0000
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