ACME PAPERS LTD Vs. CHINTAMAN DEVELOPERS PVT. LTD

JUDGEMENT

(1.) This transfer petition has been filed by the petitioner seeking transfer of RCS No.128/A/2023, filed by respondent no.1, from the Court of District Judge, Sehore, Madhya Pradesh to the City Civil Court, Calcutta, West Bengal.

(2.) The parties had entered into a Memorandum of Understanding (hereinafter referred to as "MoU") on 10/11/2022 whereby respondent no.1 had agreed to purchase land admeasuring an area of approx. 74.06 acres ("suit property") on an "as is whatever there is" basis for a consideration of Rs.20,69,92,000.00. It was also agreed that the petitioner would obtain all necessary approvals/no objection certificates ("NOCs") for the transfer of suit property and in case of unprecedented delay in obtaining the same, the petitioner would be at liberty to deal with suit property by treating the MoU as cancelled and/or terminated.

(3.) Subsequently, the petitioner could not obtain the necessary approvals required for selling the suit property and thus, the respondents filed a suit for specific performance of the MoU, which the petitioner now seeks to transfer to Calcutta where they have already filed a suit for declaration that the MoU stands terminated and is incapable of being acted upon.