Amaal Ventures Limited & Anor v Eros Limited

Facts

The claimants, two companies beneficially owned by Mr Aadinatha, entered into contracts with the defendant, Eros Limited, in October 2020 for the grant of long leases of two flats in Mayfair. The contracts incorporated the Standard Conditions of Sale (5th edition), with amendments. The Completion Date was 16 August 2023. On 4 September 2023 the defendant refused to complete and claimed to terminate the contracts, saying that valid notices to complete had been served and had expired. Underleases of the flats were then granted in January 2024 to nominee companies associated with the defendant and charged to Standard Chartered Bank. In a main judgment of 17 April 2026, Stephen Jourdan KC held that the contracts had not been terminated and that the claimants were entitled to specific performance. He adjourned the consequential matters. The parties could not agree the order. The claimants sought to deduct about £2.569 million from the price as late completion compensation under Standard Condition 7.2. They had not pleaded that claim, and on 24 June 2026 they applied to amend. The defendant served further notices to complete, asked for the contracts to be discharged, argued for completion by assignment of the existing underleases, and claimed rent and service charges from the Completion Date. Costs, interest on costs and payments on account were also in dispute. These matters were argued at a consequentials hearing in July 2026 and in later written submissions.