BABU BHAI THIBA Vs. ASHOK RAVI SHANKAR NARVAL

JUDGEMENT

(1.) Leave granted. Heard the learned Counsel.

(2.) Since this appeal by special leave is directed against an order granting interim relief the same may be disposed of by briefly stating the relevant facts.

(3.) The appellant claims to have lent certain sums of money to respondent No. 2, namely, Rafique Sarang. Subsequently, the disputes arose between the parties, which were referred to a named Arbitrator on 29.5.2001. The Arbitrator passed an award declaring the respondent No. 2 liable to pay a sum of Rs. 78,96,300/- to the appellant i.e. Babu Bhai Thiba. The appellant sought execution of the Award in the Bombay High Court. It appears that an order was passed by the Bombay High Court in the execution application on 1.8.2003 directing attachment of several properties including the premises No. 108 Palm Spring CGHS Limited, First Floor, Swamy Samarth Nagar, Andheri (W), Mumbai. At this stage, respondent No. 1, Ashok Ravi Shankar Naval, filed Chamber Summons No. 1277/2003 seeking an order for raising attachment of the aforesaid premises, on the ground that he is the owner, thereof. In support of his plea he relied upon two agreements dated 1.10.1999 executed by respondent No. 2, Rafiq Sarang, his wife Mrs. Shahnaz Rafiq Sarang, with respondent No. 1 and his wife. He claimed that under one agreement he had paid a sum of Rs. 9,53,000/- in cash as a loan transaction. The second agreement was for sale of the aforesaid premises in case of failure to repay the loan amount. Since Rafique Sarang failed to repay the loan, the premises were duly transferred in the name of respondent No. 1 by the Society.