On 1 April 2026, Harpreet Singh acknowledges receipt from Aarav Sharma of ₹5,00,000 (Rupees Five Lakh only) toward the proposed purchase of Plot 218, Eco City 1, New Chandigarh, Punjab (Apartment): Residential plot measuring approximately 300 sq yd in Eco City 1..
Proposed total sale consideration recorded for context: ₹2,25,00,000 (Rupees Two Crore Twenty Five Lakh only). Payment mode: Bank transfer. Reference: UTR HDFC2609101122.
Receipt effect: Receipt acknowledges earnest money under the separately identified transaction terms. Governing transaction-terms reference: Term Sheet dated 10 September 2026
Seller-default treatment: Refund follows the separately agreed transaction terms and reasonable-compensation law. Buyer-default treatment: Forfeiture, if claimed, is subject to the agreed terms and section 74 reasonable-compensation principles.
Section 74 of the Indian Contract Act, 1872 limits recovery under a stipulated sum/penalty clause to reasonable compensation not exceeding the amount stipulated. This receipt therefore does not state that forfeiture is automatically valid merely because the word earnest is used.