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Cancellation Deed

Any claims the purchaser of a property could have had against it are terminated by a cancellation deed, which is a legal instrument. The property transfer from the buyer to the seller is canceled as a result. Both the buyer and the seller must sign it.

The cancellation of the Term Sheet and the refund of the main amount and interest as claimed in the Cancellation Deed are disputed by the Corporate Debtor.

Cancellation-Deed

The Corporate Debtor additionally asserted that, previous to the Petitioner receiving a draft of the Cancellation Deed, the Corporate Debtor mistakenly believed that the parties were still in the process of finalizing the terms of the Development Management Agreement.

The Promoter may terminate this Agreement by giving the Allottee written notice, and if the Allottee does not cure the default or breach of the terms and conditions within the time specified by the notice, the Promoter shall have the right to do so at the end of the notice period.

The Allottee's only right is to receive a refund of the amount paid to the Promoter, subject to any deductions specified below and without interest or other compensation, upon execution and registration of the Cancellation D.

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Furthermore, neither party suffers injury.

Nearly all of the agreement is completed before the conclusion of the notice period, and no additional stress should be placed on the agreement.

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