Law:

Section:

(a) Contract Act (IX of 1872)-- ----S: 55---Contract for sale of immovable property---Time would not of essence of contract---In absence of terms and conditions in the agreement, question of forfeiting earnest money would not arise. Sh. Maqbool Ahmad v. Board of Revenue 1990 ALD 586; Irshad H. Khan v. Mrs. Parveen Ajaz PLD 1987 Kar. 466; House Building Finance Corporation v. Shahinshah Humayun Cooperative House 1992 SCMR 19; M/s. Shifa Medicos v. Commerce Bank Ltd. 1988 MLD 1126; Ghulam Abbas v. Trustees of the Port of Karachi PLD 1987 SC 393 and Muhammad Khan v. Riaz-ud-Din PLD 1981 Kar. 170 ref. (b) Civil Procedure Code (V of 1908)-- ----S. 34---Specific Relief Act (I of 1877), S.12---Award of compound interest by Court---Competency---Civil Court would have ample power under Civil Procedure Code, 1908 and Specific Relief Act, 1877 to grant compound interest to meet the ends of justice and fairplay---Where commercial transaction was not finalised on account of defendant and earnest money of plaintiff amounting to more than 2 million remained with him and he had been utilising the same in commercial transactions, awarding of compound interest by Court to plaintiff was justifiable and proper order. A. Ismaiijee and Sons Ltd. v. Pakistan PLD 1986 SC 499; Terni S.P.A. v. PECO (Pakistan Engineering Company) Ltd. 1992 SCMR 2238; B.N. Railway v. Ruttanji Ramji AIR 1938 PC 67; Mahabir Prasad Rungta v. Durga Datta AIR 1961 SC 990; Ghulam Abbas v. Trustees of Port of Karachi PLD 1987 SC 393; Arif Ali Shah v. Province of West Pakistan 1969 SCMR 690; New Brunswick Electrical Power Co. Ltd. v. Hard AIR 1929 PC 185 and State of Madhya Pradesh v. Nathabai Desaibhai Patel AIR 1972 SC 1545 ref. (c) Civil Procedure Code (V of 1908)-- ----S. 96---New plea---Plea not taken in grounds of appeal could not be permitted to be agitated in arguments. (d) Civil Procedure Code (V of 1908)-- ----S. 34 & O.VII, R.7---Ancillary relief, whether could be awarded when not prayed for---Where Court had awarded decree for payment of money it could award interest at such rate as the Court deemed reasonable to be paid on principal sum so adjudged---Ancillary relief could be awarded in spite of…

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