Jurisdiction issue in contract agreement
A is a businessman with a company in Delhi. He was on a vacation in Goa, where he was in a casino and urgently needed some money for the purpose of betting, and took a loan from B for Rs. 1 crore, by the way of a written agreement, and handed over majority shares in his company to B which were to act as a surety in case of default. (To be noted that B ordinarily carries his business and resides in Panaji, Goa.)
The loan was given on the following conditions:
1. That either A will return double the amount of loan by the end of that day, or
2. A will have to forfeit his shares in favour of B in case of non-repayment by the end of the day.
A loses all that money, and is unable to return the promised money to B by the end of the day.
The next day, he meets up with B and requests him to take double the loan amount and to release his shares, but B refuses to do so.
A goes back to Delhi, and files a suit in commercial court in Tis Hazari, Delhi.
So, my query is, that whether the Delhi court has the jurisdiction to entertain A’s suit or not.