This deed of cancellation of arrangement is made and executed with this _____ working day of _________, ________ by Hyderabad, By simply , Between. The Greater Banjara co-operative Enclosure Society Limited. bearing registration no .
TAB-606 dated 7-7-2004 at Hyderabad, represented by president from the society Mister. Santhosh Raja, S/o. Shri Bhupal goud and the admin Mr. Subhash Reddy S/o. Late E. Srinivasa Reddy along with the world members (herein after referred to as the “Vendors) which conditions shall imply and include all their legal staff, auditors controlling committee members, General members of the contemporary society and their nominees etc . and assigns in Vendor. AND 4 GEMS RELATOR’S AND DEVELOPERS Office: C/o. Raj Bhavan Road plot number 134, Suyog Nagar, Nagpur ” 4400013, Represented by simply its lovers, PARHEEZ. S i9000. GIMI, Aged 41yrs, R/o. Behramhi Town Nagpur, BHARAT. S. MESHRAM, Aged 38yrs, R/o. Shivaji Complex, Mankapur, Nagpur, ASHFAQ. SAMNANI, Aged 40yrs, R/o. C. A. Road, Nagpur. JOINTLY AND SEVERALLY (Herein after called the “vendee) which terms shall imply and include their heirs, legal representatives and assigns in Vendee.
While the Greater Banjara co-operative Housing Society Ltd, the VENDOR of the first component is a contemporary society registered under the provisions of Andhra Pradesh co-operative societies at 1964 and continues to be issued qualification of subscription under section 8 of APCS act-VII of 1964 on 07-07-2004. the object of the said culture is to go on the control and business of building, exchanging the area is obedience with co-operative principles and with preceding permission and authorization by simply its associates as per the conditions of bye-laws.
Whereas the vendees of the second portion are the residents of Nagpur city in the state of Maharashtra and are also involved in the organization including the organization relating to offer purchase of agricultural and no agricultural countries and infrastructures and had been in search of home for making expenditure and advancement as for its wish and whims. The vendees with the second part came in contact with vendor from the first part through worried person and also knowledge about the intension with the vendors in the first portion to sell and dispose of the said land.
The vendees of the second part consequently has shown their very own willingness to buy the aforesaid land to which the vendors of the initial part features consented. The vendors with the first component after making enquiry about business, personals and statues of vendees of the second part offers entered into credited discussions and deliberation and agreed to sell the aforesaid land to vendees of the second part on the arranged terms and conditions narrated in the arrangement of deal.
Where as both the Vendors and Vendees include entered into an agreement of sale dt. 18-12-2011, in respect of the exact property to an magnitude of Ac. 5. 36 guntas located at highway no . doze, Banjara Slopes, Hyderabad. With this context the Vendee possess issued three cheques vide nos. 078604, 078605 and 665088 dt. 19th, twentieth and twenty third December 2011, respectively, intended for Rs. a few, 00, 1000, 00/- Cr. (Five Crore) of each, therefore the total amount of Rs. 12-15, 00, 500, 00/- (Fifteen Crore) towards the advance a part of sale thought.
Where as the Vendor has offered the above mentioned three cheques for the bankers in the vendees of Nagpur, according to scheduled schedules through the lenders of distributors (i. elizabeth., ) American indian Bank, Narayanaguda Branch, Hyderabad for collection, but it is extremely unfortunate that the Vendee have not honoured the above mentioned cheques, hence all the cheques were returned. Where as the seller along with their well-wishers, Arbitrators, and consultants, talked about the matter seriously and experienced very awful, about the behaviour and attitude from the vendees and decided to terminate and terminate the arrangement of deal dt: 18-12-2011.
Where as the Vendee portrayed their lack of ability to continue in the said deal and not in a position to fulfill the conditions of their part, including to mobilize and arrangement of funds for purchase of the explained scheduled real estate as per the arrangement of deal dt: 18-12-2011 and expected the suppliers for cancellation of the over agreement of sale with due apologies to the suppliers and their basic members.
Where as the vendors, as per the ask for and decision of the vendees and as every the guidelines of the Arbitrators , Consultants, both distributors and vendees unanimously decided and with full is going to and agreement, cancelled and terminated the agreement of sale dt. 18-12-2011, as a result the said agreement of sale does not have valid and null and void. IN WITNESS IN WHICH OFF THE TWO VENDORS AND THE VENDEES HAVE GOT SIGNED THIS KIND OF CANCELLED ARRANGEMENT OF SALES ON THE DAY, MONTH AND 12 MONTHS ABOVE MENTIONED IN THE PRESENDE WITH THE FOLLOWING WITNESSES: Consultants: 1 ) 2 . a few. 4. a few. 6. Witnesses: 1 . 2 .