agreement i.e. by April, 2017. There was a compulsory buyback provision in the
agreement which stipulates that upon the expiry of 12 months ... apartments to the Financial Creditor or he
intends to exercise the compulsory buyback. The Corporate Debtor exclaimed
his interest to buyback the said apartments from
amount and first
installments. The accused agreed/promised to pay a 10% buyback of total pre-registration
rate i.e. Rs.500/- per sq. yard ... question in the present complaint, in view
of a scheme of buyback of a land which was purchased by him. He admitted that
demanded
by the petitioner towards buyback of its 24.40% stake in
the said respondent Company pursuant to the MOU dated
02.05.2013. The buyback can only ... already paid by the respondent Company
to the petitioners towards the said Buyback, but the said
amount cannot be treated to be given against
that there is no provision for
interest in the buyback agreement Ex. CW-1/3 much less of 3% compound
CRL.A. 442/2017 Page ... back
the shares and repay the amount in terms of the buyback agreement along
with the 3% quarterly compound interest. Cheque amount in dispute
amount and first installment. Appellant no. 1
agreed to pay a 10% buyback of total preregistration @ Rs. 500/ per sq. yard in
addition ... each, two chequs for one plot under one of the buyback agreements and other
two cheques were for the other plot in respect
Opposite Parties. It is the admitted fact that under the buyback option, the complainant was to get assured return ... nothing speculative about the same. Further, it was also stated in the Buyback Agreement dated 17.06.2013 to the extent that Promoters/Opposite Parties will give
Opposite Parties. It is the admitted fact that under the buyback option, the complainants were to get assured return ... nothing speculative about the same. Further, it was also stated in the Buyback Agreement dated 29.06.2013 to the extent that Promoters/Opposite Parties will give
they published an advertisement in newspaper
dated 27.01.2013, offering a buyback scheme at Sh. RAJNIGANDHA
GREEN (SRG), claiming that accused company ... postal receipts dated 22.04.2014.
(v) The copy of buyback agreement Ex. CW-1/E.
(vi) The copy of cheque issued by complainant
Back Period hence, he was not entitled to the enhanced
buyback option as envisaged under Ex. CW1/8 (OSR) (Colly).
He submitted that since ... defence raised by the accused
persons that if the buyback option is exercised by the
complainant as contemplated, even then the accused persons
cheques in question were given to the complainant at
the time of Buyback Agreement dated 17.05.2014 and as per para no.4 of the
said ... respondent no.1 cannot be discharged on
merits also.
The perusal of buyback agreement clearly reveals that the same was
executed with M/s. Eternity
