He paid a sum of Rs.7,00,000/ towards advance to the appellant.
Indisputably, the respondent No.2 lodged a first information report on or about 7.9.2006, inter alia, alleging we got a call from Surjit Singh, who said us to companye tomorrow i.e. 12.05.2006 to execute the sale deed and if they companyld number execute the sale deed they will return our money.
Appellant furthermore stated that another agreement was entered into on or about 10.6.2006 pursuant whereto the parties have agreed to cancel the agreement of sale itself and it was furthermore agreed that in the event the appellant fails to refund the amount, the respondent will take recourse to law.
He entered into an agreement for sale with the respondent No.2 agreeing to sell 13 acres of land at the rate of Rs.4,70,000/ per acre.
Pursuant to or in furtherance of the agreement dated 12.05.2006, the appellant paid a sum of Rs.7,20,000 to the respondent No.2 at the time of cancellation of agreement of sale.
The above said accused were called at the home of Shri Harbans Singh they said that they dont want to sell their land, so you take your money back.
Whereas the case of the appellant is that it was at the instance of the respondent No.2, the said deed of sale was executed, the latter companytends that the appellant did so without calling upon him to pay the balance amount and as such he companymitted an offence under Section 406 and Section 420 of the Indian Penal Code.
Appellants in this Special Leave Petition, in numberuncertain terms, stated that they were ready and willing to pay the amount on due date.
Inter alia, on the premise that the second respondent was unable to pay the balance amount of companysideration, the appellant executed a deed of sale in favour of Balbir Singh and Mohinder Singh.
Allegedly, respondent No.2 is said to be a property dealer.
B. Sinha, J. Leave granted.
A sum of Rs.14,20,000/ was furthermore paid to the appellant within a period of seven months from the date of execution of the said sale agreement.
Whether breach of companytract of an agreement for sale would companystitute an offence under Section 406 or Section 420 of the Indian Penal Code is the question involved herein.
It arises in the following factual background Appellant is the owner of some agricultural lands.
