LEGAL NOTICE TO APPOINT ARBITRATOR IN CASE OF DISPUTE ARISING OUT OF AGREEMENT TO SELL EXECUTED BETWEEN SELLER OF CONVERTED AGRICULTURAL LAND AND THE PURCHASER OF THE CONVERTED AGRICULTURAL LAND
LEGAL NOTICE TO APPOINT ARBITRATOR IN CASE OF DISPUTE ARISING OUT OF AGREEMENT TO SELL EXECUTED BETWEEN SELLER OF CONVERTED AGRICULTURAL LAND AND THE PURCHASER OF THE CONVERTED AGRICULTURAL LAND.
A.B.C. Advocate Supreme Court / ……………. High Court (Enrollment No……………………..) | Address: ……………………………… ……………………………… Email: …………….…………..………. Mob. No……………………………….. Landline No..………………………… PAN:……………………………………. Aadhar No…………………………… GSTIN No:……………….……………. |
Regd. A.D/Speed Post/ Courier
Dated: …………
Mr. ________________,
__________
M/s _______________________.,
Mr. ___________, and
Mr. ________________
All Partners of
M/s _____________
Partnership Firm
having its Registered Office at
____________________________________.
Addressee
LEGAL NOTICE FOR APPOINTMENT OF ARBITRATOR
On behalf of and under instructions of my client M/s ________________________, having its registered office at __________________________, and Corporate office at _______________________, duly represented through its __________, Shri___________, S/D/W/o Shri __________, R/o _________________, I serve upon you the addressee, the following Legal Notice:-
(1) That you the Addressee is the owner of Agriculture Land measuring ___ Kanal and ___ Marla, as per details given below:-
(a) ___ Kanal ___ Marla comprised in Khasra No._____ (__K__M) Min, ________(___K-___M) Min, ____(___K-___M) Min, ___ (__K-___M) Min, falling in Khewat Khatoni No.___ /_____, ___/____, situated in ___________, having purchased the same from the “Previous Owner” M/s. ________, a Company registered under the Companies Act, 1956 & having its office at ___________, vide Sale Deed registered with Sub-Registrar, ______ as Document No.___, in
Addl. Book No. __, Volume No. ______, on Page No.___, on ___.
(b) ______ Kanal ______ Marla comprised in Khasra No.______ (__K-__M), ___ (__K-__M), falling in Khewat Khatoni No.__/__, __/__, situated in ___________, having purchased the same from the “Previous Owner” M/s. ________, a Company registered under the Companies Act, 1956 & having its office at _____________, vide Sale Deed registered with Sub-Registrar, ______ as Document No.___ in Addl. Book No.__, Volume No.___, on Page ___, on ___.
That the above Agriculture Land is hereinafter collectively called the “said Land”.
2. That you the Addressee entered into an Agreement to Sell dated ___ with my Client abovenamed whereby you the Addressee agreed to sell to my Client abovenamed at your cost, an Approved Project of Commercial use on the “said Land” mentioned in Schedule-I of the Agreement to Sell dated ___. That as per Agreement to Sell dated ___, you the Addressee was liable to prepare at your cost all the Applications, CLU, Layout Plans, Zoning Plans, Structural Design, MEP Design, and Landscape Design, Building Plans and other Plans, Environment Applications, Pollution Board Application and all other NOC Application etc to be submitted to various competent authorities so as to get all the statutory permissions/ approvals, sanctions/NOC’s including the approval of Layout Plans, Zoning Plans, Building Plans, Environment etc. required by my Client abovenamed for commencement of construction and marketing of “Approved Project” on the “said Land” which shall have marketable FSI of not less than ____% and all such statutory permissions/approvals/sanctions etc. shall be obtained in accordance with various State & Central Laws including Punjab Apartment Property Resolution Act (PAPRA). That it was also the duty of you the Addressee to get prior approval of Architecture/Structural/MEP/Landscape Design and other Plans etc. of the said Project from my Client abovenamed before obtaining the requisite approvals, permissions/sanctions, NOC’s. That as per the Agreement to Sell dated ___, the total sales consideration agreed to be paid by my Client abovenamed to you the Addressee was fixed at Rs.___________/- (Rupees ___________ only), to be paid in a period of ___ and a ___ years starting only after all the requisite approvals, permissions/sanctions, NOC’s obtained by you the Addressee at the cost of you the Addressee are in place for my Client abovenamed to be able to start construction and marketing of the Approved Project. The said amount of sales consideration of Rs.___________/- was payable as under :-
That out of the total sales consideration of Rs.___________/- (Rupees ___________ only), my Client abovenamed has paid to
you the Addressee at the time of execution of the said Agreement to Sell dated ___, an amount of Rs.___________/- (Rupees ___________ only) vide Ch. No.______, dated ___, draw on ___________________.
That the balance sales consideration of Rs.______/- (Rupees ______ only) was agreed to be paid by my Client abovenamed to you the Addressee as under :-
(i) A sum of Rs.___________/- (Rupees ___________ only) within ___ days of receipt of Change of Land Use permission from Municipal Corporation of ______ for the development and construction of the “Said Land” for commercial purposes.
(ii) A sum of Rs.___________/- (Rupees ___________ only) within __ days of the receipt of all the sanctions/ approvals/ permissions including the approval of zoning plans/ layout plans/ building plans and other allied approvals/ permissions/ sanctions/ NOC’s in support thereof in accordance with all the state/central laws/notifications/regulations including the provisions of “PAPRA”, if applicable, so that the “Said Land” is converted into the “Approved Project”, and my Client abovenamed is in a position to start the development and construction works on the “Approved Project” for construction of “Proposed Commercial Complex”, and that my Client abovenamed is also in a position to commence the marketing of various spaces including the car parkings & other areas in the said Commercial Complex.
(iii) An amount of Rs.______/- (Rupees ______ only) was agreed to be paid by my Client abovenamed to you the Addressee on or before the expiry of _____ months, from the date my Client abovenamed is entitled to start the development and construction works for construction of the Commercial Complex on the “Approved Project” and that my Client abovenamed is also in a position to commence the marketing of various spaces including the car parkings and other areas in the Commercial Complex.
(iv) An amount of Rs.______/- (Rupees ______ only) was agreed to be paid by my Client abovenamed to you the Addressee on or before the expiry of __ months, from the date my Client abovenamed is entitled to start the development and construction works for construction of the Commercial Complex on the “Approved Project” and that my Client abovenamed is also in a position to commence the marketing of various spaces including the car parkings and other areas in the Commercial Complex.
(v) An amount of Rs.______/- (Rupees ______ only) was agreed to be paid by my Client abovenamed to you the Addressee on or before
the expiry of ___ months, from the date my Client abovenamed entitled to start the development and construction works for construction of the Commercial Complex on the “Approved Project” and that my Client abovenamed is also in a position to commence the marketing of various spaces including the car parkings and other areas in the Commercial Complex.
(vi) That it was further agreed by my Client abovenamed with you the Addressee that my Client abovenamed agreed to complete the total payment of Rs.______/- (Rupees ______ only) within a period of __ months from the date my Client abovenamed is entitled to start the development and construction works for construction of the Commercial Complex on the “Approved Project” and that my Client abovenamed is also in a position to commence the marketing of various spaces including the car parkings and other areas in the Commercial Complex.
It was however, also agreed by you the Addressee with my Client abovenamed that in case of any delay by my Client abovenamed, you the Addressee shall extend the “said period of ___ months” by a period of ___ months on payment of interest @___% on the unpaid balance. After the expiry of the said extended period of ___ months in case any balance amount remains unpaid, my Client abovenamed shall be liable to pay the balance amount alongwith interest @___% per annum in respect of any unpaid balance for a period of __ months and therefore no further extension will be allowed.
3. That simultaneously with the signing of the Agreement to Sell dated ___, my Client abovenamed paid to you the Addressee an amount of Rs.___________/- (Rupees ___________ only), vide Ch. No.______, dated ___, draw on ___________________.
4. That thereafter, my Client abovenamed vide letter dated ______ informed you the Addressee that though the value of the “said Land” mentioned in the Schedule-I of the Agreement to Sell dated ___ is Rs.______ approx. but my Client abovenamed have paid to you the Addressee an amount of Rs.______, which is more than ___% the market value of the said Land”, and therefore, my Client abovenamed expected you the Addressee to move very fast to appoint Architects/various Consultants to get the appropriate approvals at the earliest. That alongwith the letter dated ______, my Client abovenamed also sent to you the Addressee a Tentative List of Approvals, Permissions/Sanctions, NOC’s required for the approved project. The said list included the approvals, permissions/sanctions, NOC’s required prior to the commencement of construction and after completion of the construction of the Project. That my Client abovenamed also informed you the Addressee that all the costs
required to be incurred in obtaining of approvals, permissions/sanctions, NOC’s required for the project prior to start of construction shall be borne and paid by you the Addressee and all the costs required for non-construction related approvals shall be borne by my Client abovenamed however, you the Addressee shall be required to assist my Client abovenamed in that regard.
5. That thereafter, vide letter dated ______, you the Addressee informed and confirmed to my Client abovenamed that you will expedite all the approvals at the costs of you the Addressee, and you the Addressee requested my Client abovenamed to provide the names of the Architects and other consultants who may be appointed for preparing the architectural designs, layout plans and zoning plans, building plans, structural design, MEP design, Back of House , Landscape Plan and other plans and applications for getting necessary approvals, permissions/sanctions, NOC’s from various authorities for giving to my Client abovenamed an Approved Project and enabling my Client abovenamed to start construction & marketing of the Approved Project as stipulated under the Agreement to Sell dated ___. You the Addressee also informed my Client abovenamed that you the Addressee have obtained the Change of Land Use from the office of the Municipal Town Planner, ______ vide letter dated ______ which was in original sent by you the Addressee to my Client abovenamed alongwith the letter dated ______. You the Addressee also requested my Client abovenamed to make the payment of next installment of Rs.___________/- (Rupees ___________ only).
6. That thereafter, my Client abovenamed vide letter dated ______suggested to you the Addressee the names of the Architects/Consultants who could be appointed by you the Addressee for getting the Plans/Designs prepared for getting the necessary approvals, permissions/sanctions, NOC’s for the Approved Project. That my Client abovenamed also suggested to you the Addressee to appoint local consultants for land survey, soil testing, quantity service, fire fighting, plumbing, boring etc. My Client abovenamed also assured to you the Addressee that my Client abovenamed will release the due amount of Rs.___________/- (Rupees ___________ only) within next couple of days.
7. That thereafter you the Addressee informed & requested my Client abovenamed over the phone followed by letter dated ______to appoint Architect/ Consultants of my Client’s above named choice and settle their fee on behalf of you the Addressee and you the Addressee also informed that my Client abovenamed may directly pay the fee to the Architects/ Consultants and adjust the same against the amount payable by my Client abovenamed to you the Addressee under the
Agreement to Sell dated ___.
8. That thereafter, my Client abovenamed vide letter dated ______ informed you the Addressee that my Client abovenamed will proceed to appoint Architect/ Consultants and issue them the appointment letters and pay the prescribed fee to them on behalf of you the Addressee and adjust the same against the amount payable by my Client abovenamed to you the Addressee under the Agreement to Sell dated ___. My Client abovenamed also requested you the Addressee to provide Soil Testing Report, Water Analysis Report and Topographical Survey Report of the said Land.
9. That thereafter vide letter dated ______, my Client abovenamed made further payment of Rs.___________/- (Rupees ___________ only), to you the Addressee vide Ch. No.______ dated ______ drawn on Corporation Bank, and my Client abovenamed reminded you the Addressee that my Client abovenamed is awaiting the soil testing report, water analysis report and topographical survey report to be given to Architect for preparation of building plan and without these reports the Architect is not in a position to proceed. You the Addressee provided the receipt dated ______ of Rs.___________/- (Rupees ___________ only) to my Client abovenamed in acknowledgment of the payment of the said amount of Rs.___________/- (Rupees ___________ only).
10. That thereafter, my Client abovenamed vide letter dated ______ informed you the Addressee that they have appointed one M/s ________, as the Architectural Consultant to prepare Zoning/Layout/Building Plans, and also to get MEP, Structural Design etc. from other consultants with whom M/s ________ are comfortable, and my Client abovenamed also informed to you the Addressee that only after the preliminary design is prepared by the Architect and the same is approved by my Client abovenamed that my Client abovenamed will issue formal appointment letter to M/s ________ My Client abovenamed also informed you the Addressee that the said Architect has already been instructed to start the work. My Client abovenamed also alongwith the said letter dated ______ provided to you the Addressee a copy of the Technical - Commercial Fee Proposal for Design Services received from ARCOP vide their letter dated ______. It was also further informed to you the Addressee that my Client abovenamed have also appointed one Mr. ________, former Executive Director of DLF who is a Structural Engineer to review the architectural and structural designs prepared by M/s ________ so as to ensure that the Structural Design and Architectural Design are complementary to each other. That my Client abovenamed also informed you the Addressee that my Client abovenamed have settled a
fee of Rs.______/- per month plus Service Tax with Mr. ________ and that his appointment will be w.e.f. ______ and till the Structural Design and Architectural Design are prepared. My Client abovenamed also forwarded to you the Addressee a copy of the Appointment Letter dated ______ issued by my Client abovenamed to the said Mr. ________. My Client abovenamed also requested you the Addressee to provide Soil Testing Report, Water Analysis Report and Topographical Survey Report which were required to be given to Architect for preparation of building plans.
11. That thereafter vide letter dated ______, you the Addressee informed my Client abovenamed that you the Addressee have noted the appointment of M/s ________, and also the appointment of Mr. ________.
12. That thereafter my Client abovenamed vide letter dated ______ alongwith a separate letter dated ______ marked to Municipal Town Planner, ______ sent to you the Addressee for obtaining approval from the Municipal Town Planner, the Zoning Plans in respect of Commercial Shopping Complex and Commercial Serviced Suites/ Multiplex-cum-Commercial Shopping Centre & requested you the Addressee to get the necessary approvals of the Zoning Plan from the office of Municipal Town Planner.
13. That thereafter based on the inputs received from you the Addressee, my Client abovenamed vide letter dated ______ along with a separate letter dated ______ marked to Municipal Town Planner, ______ sent to you the Addressee for obtaining approval from the Municipal Town Planner, the revised Zoning Plans in respect of Commercial Shopping Complex and Commercial Serviced Suites and requested you the Addressee to get the necessary approvals.
14. That thereafter vide letter dated ______, my Client abovenamed informed you the Addressee that my Client abovenamed was not satisfied with the works of M/s ________ and Mr. ________ and therefore my Client abovenamed decided not to proceed with them and further informed you the Addressee that M/s ________ have been appointed as new Architect. My Client abovenamed also informed you the Addressee that an amount of Rs.______/- was paid to M/s ________ and an amount of Rs ______/- was paid to Mr. ________ for & on behalf of and to the Account of you the Addressee.
15. That thereafter you the Addressee vide letter dated ______ acknowledged the appointment of M/s ________, and also informed my Client abovenamed that my Client abovenamed were free to appoint anyone in the interest of the project.
16. That thereafter my Client abovenamed vide letter dated ______, informed you the Addressee that my Client abovenamed were not satisfied with the Preliminary Designs of M/s ________, and therefore my Client abovenamed have decided not to proceed with them and further informed you the Addressee that my Client abovenamed have appointed M/s ________, who are headquartered in _______ as new Architect for the project. My Client abovenamed also informed you the Addressee that a lumpsum amount of Rs.________/- was agreed to be paid by my Client abovenamed to M/s ________ on you the Addressee account for the work done by M/s ________. My Client abovenamed also provided to you the Addressee a copy of the appointment letter dated _______ issued to M/s ________.
17. That thereafter my Client abovenamed vide letter dated ______ informed you the Addressee that my Client abovenamed have also appointed M/s ________ on the recommendation of M/s ________ and my Client abovenamed also forwarded to you the Addressee a copy of letter dated ______.
18. That thereafter my Client abovenamed vide letter dated ______ informed you the Addressee that my Client abovenamed have also appointed M/s ________ as Structural Consultant on the recommendation of M/s ________. My Client abovenamed also invited you the Addressee to attend the final presentation of the Concept design prepared by M/s ________, in the office of ________ on ______.
19. That thereafter vide Letter dated ______, my Client abovenamed provided to you the Addressee a copy the Agreement dated ________ executed with M/s ________ in respect of their scope of work and fees.
20. That thereafter you the Addressee vide letter dated ______ informed my Client abovenamed that you the Addressee were satisfied with the work and speed of M/s ________ and also suggested that a Club should be introduced instead of the Commercial Shopping Complex. That you the Addressee also requested my Client abovenamed to pay to you the Addressee an amount of Rs.___________/- as an advance payment of the next instalment due stating that the preparation of plans were delayed and hence, they were in need of funds urgently.
21. That my Client abovenamed vide letter dated ______ informed you the Addressee that my Client abovenamed shall pay to you the Addressee an advance payment of Rs.______/- within ______ days
only because you the Addressee was in need of funds even though the amount was only payable on the receipt of all Approvals/ NOCs as per Agreement to Sell dated ___. My Client abovenamed further informed that the balance amount of Rs.______/- would be paid only on receipt of all Approvals/ NOCs and possession of land.
22. That my Client abovenamed paid an amount of Rs.______/- (Rupees ______ only), vide Ch. No._______, dated ______, draw on ___________________ to you the Addressee on ______ for which a Receipt dated ______ of Rs.______/- was issued by you the Addressee.
23. That thereafter my Client abovenamed vide letter dated _____ also informed you the Addressee that my Client abovenamed have appointed M/s________, M/s________, and M/s________ as Back of House, Environment and Landscape Consultants vide letter dated _____, _____ & _____ respectively and my Client abovenamed also provided to you the Addressee a copy of the appointment letters dated _____, _____ and _____ issued by my Client abovenamed to the Consultants.
24. That you the Addressee vide letter dated _____ addressed to my Client abovenamed acknowledged the appointment of Back of House, Environment and Landscape Consultants respectively. You the Addressee also requested my Client abovenamed for a payment of Rs.______/- as per the Agreement to Sell dated ___ as they were in urgent need of funds.
25. That thereafter my Client abovenamed paid to you the Addressee on _____ an amount of Rs.______/- comprising of Cheque No. _____ dated _____, for Rs._____/- drawn on _____, _______________ and Cheque No._____ dated _____ for Rs._____/- drawn on _________________ as further part sales consideration under the terms and conditions of the Agreement to Sell dated ___. You the Addressee issued a Receipt dated _____ in acknowledgement of the said payment of Rs.______/-.
26. That thereafter vide letter dated _____, my Client abovenamed informed you the Addressee that the Approval of Building Plans are not forthcoming and my Client abovenamed have already paid to you the Addressee an amount of Rs._____/- which is much more than the market value of land. It was also informed to you the Addressee that without approval of building plans, other approvals/ NOC’s which are numerous can’t be obtained and the funds of my Client abovenamed are blocked. My Client abovenamed also categorically informed you the Addressee that my Client abovenamed would now pursue the
approval of Building Plans and would themselves obtain all other approvals/NOC as my Client abovenamed cannot afforded to continue blocking its funds and you the Addressee was informed not to pursue any approval/NOC for the project. My Client abovenamed also requested you the Addressee to get the valuation of the land done as on date and register the land in favour of my Client abovenamed and refund the balance amount to my Client abovenamed. My Client abovenamed also informed you the Addressee that my Client abovenamed have already as on _____ spent an approximate amount of Rs._____ approx. (comprising of Rs._____ paid to you the Addressee and Rs._____ paid to various consultants on behalf of you the Addressee including loss of interest). Details of expenditure already incurred by my Client abovenamed on behalf of you the Addressee on various Consultants were also provided by my Client abovenamed to you the Addressee with the said Letter dated _____. My Client abovenamed also informed you the Addressee that my Client abovenamed have against already executed Agreements made further commitment of over Rs._____ approx. on behalf of you the Addressee and my Client abovenamed may have to incur another amount of Rs.__ to __ crores approx. on behalf of you the Addressee so as to get all the approvals to be entitled to commence the construction and marketing of the Project. My Client abovenamed informed you the Addressee that the total cost of the Project with all the Approvals to enable my Client abovenamed to be in a position to commence the construction and marketing of the Project is estimated to be Rs.___ Crores which will be adjusted by my Client abovenamed to you the Addressee against the amount payable by my Client abovenamed to you the Addressee under Agreement to Sell dated ___. My Client abovenamed also informed you the Addressee that the estimate of Rs. ___ Crores was in addition to the loss of interest on the said amount of Rs.___ Crores to be spent by my Client abovenamed on behalf of you the Addressee. My Client abovenamed further informed you the Addressee that all these costs were required to be incurred by you the Addressee as per the Agreement to Sell dated ___. My Client abovenamed also informed you the Addressee that my Client abovenamed would like to stop at this stage and get the land registered in the name of my Client abovenamed on the basis of valuation of land as on date and settle the account amongst each other and take the refund of balance amount from you the Addressee. My Client abovenamed informed you the Addressee that as per the assessment of my Client abovenamed, the market value of the said Land is about Rs.___ Crores comprising of Rs.______ as the market value of the Agricultural Land and Rs.___ Crores towards change of land use cost. my Client abovenamed informed you the Addressee that they have already paid to you the Addressee an excess amount of Rs.___ Crores (i.e. Rs._____ – Rs.___ Crores). My Client abovenamed requested you the Addressee to kindly
get the valuation done at you the Addressee’s level and suggested to you the Addressee to meet at convenient time and settle the issue once and for all as my Client abovenamed cannot block their funds.
28. That thereafter you the Addressee wrote a letter dated _____ to my Client abovenamed and showed surprise on the attitude of my Client abovenamed in various meetings held by you the Addressee with my Client abovenamed in the past. You the Addressee informed my Client abovenamed that you the Addressee are also struck up with my Client abovenamed and not able to concentrate on other projects. You the Addressee suggested to my Client abovenamed to resolve the dispute amicably. You the Addressee informed my Client abovenamed that as per you the Addressee the assessment of valuation of the land is Rs._____ and you the Addressee requested my Client abovenamed to pay the balance amount of Rs.___ Crores (i.e. Rs.___ Crores– Rs._____), and you the Addressee would register the conveyance Deed of the land in the name of my Client abovenamed and thereafter my Client abovenamed can take care all the approvals at their end.
29. That from the above facts of the case and sequence of events, it is clear that you the Addressee has breached the terms and conditions of Agreement to Sell dated ___ and have failed to perform you the Addressee’s part of the obligation in getting prepared at you the Addressee’s cost the architectural design, layout plans, zoning plans, building plans, structural design, MEP design, Back of House Plan, Landscape Plan and other plans. My Client abovenamed states that though a period of 3 years have already lapsed, but you the Addressee have not even able to obtain the approval of building plans and you the Addressee are well aware that without approval of building plans, the other sanctions/approvals/NOC/permissions mentioned in the list attached with my Client abovenamed letter dated ______, that my Client abovenamed is not in a position to even commence the construction and marketing of the project. My Client abovenamed further states that since you the Addressee failed to obtain the approval of building plans, my Client abovenamed have to step in and vide letter dated _____, my Client abovenamed categorically informed you the Addressee not to pursue any further approvals/permissions, and my Client abovenamed will itself obtain the approval of the building plans and all other NOC’s/ permissions/ approvals/ sanctions. My Client abovenamed had to spend lot of time and energy and incure costs to obtain the approval of building plan which were obtained by my Client abovenamed on _____.
30.. That my Client abovenamed vide letter dated _____ categorically also informed you the Addressee that the Approval of Building Plans are not forthcoming and my Client abovenamed have
already paid to you the Addressee an amount of Rs._____/- which is much more than the market value of land. It was also informed to you the Addressee that without approval of building plans, other approvals/ NOC’s which are numerous, the funds of my Client abovenamed are blocked. My Client abovenamed also categorically informed you the Addressee that my Client abovenamed would now pursue the approval of Building Plans and would itself obtain all other approvals/NOC as my Client abovenamed cannot afford to continue blocking its funds and you the Addressee was informed not to pursue any approval/NOC for the project. My Client abovenamed also request you the Addressee you to get the valuation of the land done as on date and register the land in favour of my Client abovenamed and refund the balance amount to my Client abovenamed. My Client abovenamed also informed you the Addressee that my Client abovenamed have already as on _____ spent an approximate amount of Rs._____ approx. (comprising of Rs._____ paid to you the Addressee and Rs._____ paid to various consultants on behalf of you the Addressee including loss of interest). Details of expenditure already incurred on Consultants was enclosed with the said Letter dated _____. My Client abovenamed also informed you the Addressee that my Client abovenamed have against already executed Agreements have further commitment of over Rs._____ approx. on behalf of you the Addressee and my Client abovenamed may have to incur another amount of Rs.__ to __ crores approx. on behalf of you the Addressee so as to get all the approvals to be entitled to commence the construction and marketing of the Project. My Client abovenamed informed you the Addressee that the total cost of the Project with all the Approvals so as to commence the construction and marketing of the Project is estimated to be Rs.___ Crores which will be adjusted by my Client abovenamed against the amount payable by my Client abovenamed to you the Addressee under Agreement to Sell dated ___. My Client abovenamed also informed that the estimate of Rs. ___ Crores was in addition to the loss of interest on the said amount of Rs.___ Crores to be spent by my Client abovenamed on behalf of you the Addressee. My Client abovenamed informed you the Addressee that all these costs were required to be incurred by you the Addressee as per the Agreement to Sell dated ___. My Client abovenamed also informed you the Addressee that my Client abovenamed would like to stop at this stage and get the land registered in the name of my Client abovenamed on the basis of valuation of land as on date and settle the account amongst each other and take the refund of balance amount from you the Addressee. My Client abovenamed informed you the Addressee that as per the assessment of my Client abovenamed, the market value of the said Land is about Rs.___ Crores comprising of Rs.______ as the market value of the Agricultural Land and Rs.___ Crores towards change of land use cost. My Client abovenamed informed you the Addressee that
my Client abovenamed already paid to you the Addressee an excess amount of Rs.___ Crores (i.e. Rs._____ – Rs.___ Crores). My Client abovenamed requested you the Addressee to kindly get the valuation done at their level and suggested to you the Addressee to meet at convenient time and settle the issue once and for all as my Client abovenamed cannot block their funds.
31. That you are NOTIFIED that out of the commitment of amount of Rs._________/- made by my Client abovenamed to you the Addressee as per Agreement to Sell dated ___, my Client abovenamed has as on _________ already spent the following amounts / made commitments, so as to obtain all the permissions/ sanctions/approvals/NOC’s to be in a position to commence the construction & marketing of the project :-
Rs/Crores
(1) Amount paid to you the Addressee under
Agreement to Sell dated ____ :
(2) Amount paid to various Consultants for
preparation of Design /Plan :
(3) Loss of interest @__% from the date of
payment till _________
(i) loss of interest on payment of
Rs._____ : .
(ii) loss of interest on payment of Rs.
___ Crores to various consultants :
(4) Balance amount yet to be paid to various
consultants under already executed
agreements :
(5) Future costs to be incurred so as to construction
and marketing of the Project :
TOTAL
It is therefore clear that as against the aforesaid Estimated amount of Rs.___ Crores, my Client abovenamed was required to spend on Rs._____ and therefore my Client abovenamed have to incur costs of an excess amount of Rs.______ (i.e. Rs.____ Cr. – Rs.____ Cr.), so as to be in a position to obtain all the permissions/sanctions/approvals/NOC’s to commence the construction & marketing of the project .
32. That from the above it is clear that my Client abovenamed have already spent/ made further commitments will have to incur further costs in total amounting to Rs.___ Crores approx. for the Project to commence the construction and marketing of the project in order to commence the construction and marketing of the Project. Therefore, my Client abovenamed will have to spent/incur further costs for an amount totaling to Rs.___ Crores approx. (as against the initially
agreed amount of Rs._____) to be in a position to have the approved project so as to commence the construction and marketing of the Project.
33. That my Client abovenamed informed to you that my Client abovenamed will now obtain all the sanctions/ approvals/NOC/permissions at the cost of my Client abovenamed. My Client abovenamed has made an assessment of the market value of the said Agriculture Land and my Client abovenamed has been advised that the market value of the land is approx. Rs.___ Crores (i.e. comprising of the value of the Agriculture Land Rs.___ Crores + approx amount of Rs.___ Crores for change of land use). That my Client abovenamed has therefore made an excess payment of Rs.___ Crores to you the Addressee. This amount of Rs.___ Crores has been paid to you the Addressee on ______ and calculating the interest @__% per annum from ______ upto ____, the interest works out to Rs.__ Lacs approx. Therefore you the Addressee is liable to execute and register the Conveyance Deed of the Agriculture Land in the name of my Client abovenamed at Rs.___ Crores and also to refund the amount of Rs.1.85 Crores (i.e. Rs.___ Crores plus Rs.__ Lacs), to my Client abovenamed.
34. That since the value of the land of Rs._____ asked for by you the Addressee is exorbitant and not acceptable to my Client abovenamed I under instructions from my Client abovenamed serve you with this Legal Notice NOTIFYING you the Addressee that since a dispute have arisen between my Client abovenamed and you the Addressee, and therefore as stipulated by clause No.______of the Agreement to Sell dated ___, my Client abovenamed suggests you the Addressee the name of Mr. _______ Retd. Judge of Hon’ble ____________ High Court or M/s _________________ to be appointed as Arbitrator and you may further take notice that in case I do not receive any reply in response to this Legal Notice within a period of ________ days then in that event, it shall be presumed that you have no objection to the name of Mr. _______ Retd. Judge of Hon’ble Punjab and Haryana High Court or M/s ___________ for their appointment as Sole Arbitrator in terms of clause No. _____of the Agreement to Sell dated ___ executed between my Client abovenamed and you the Addressee for adjudication of disputes, in accordance with law.
Needless to mention that my Client reserves their rights to approach the Hon’ble High Court in Delhi for urgent interim orders to protect its interest.
Take notice accordingly.
( )
Advocate
Copy of this Legal Notice is retained in my office for record and necessary action, if need be.
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