Videocon Properties Ltd vs Dr. Bhalchandra Laboratories & Ors

The Supreme Court addressed the enforceability of contractual obligations under the agreement dated 13.5.1994 between the appellants and respondents, specifically focusing on Clauses 2.3, 17, and 18. The Court held that the respondents' failure to fulfill their obligations constituted a breach, allowing the appellants to terminate the agreement and seek the return of the earnest money with interest at 21% per annum. The Court affirmed the right of the purchasers to claim interest and damages due to the vendors' willful default, thereby reinforcing the principles of specific performance and compensation in contract law.