(1.) This judgment will dispose of two suits, CS (OS) 2580/1989 (hereafter the specific performance suit ) and CS (OS) 1386/90 (hereafter the possession suit ), which were consolidated. The specific performance suit was filed by M/S Asman Investments Ltd. (hereafter Asman and the Asman suit ); the defendant in this suit is K.L. Suneja (hereafter Suneja ). Suneja filed the possession suit, (hereafter the possession suit ) against Asman for ejectment and recovery of damages/mesne profits for use and occupation of the property i.e Plot No.8 Malviya Nagar Extension (Saket) Community centre, New Delhi (hereafter the suit property ; it is the subject matter of both suits).
(2.) The facts in the specific performance suit are that Asman, is a registered company under the Indian Companies Act. Suneja had purchased, in an auction from Delhi Development Authority (DDA), the suit property measuring 115.2 sq metres on 27.3.1980 for 6,15,000/-. The sale was confirmed by DDA through letter dated 15.4.1980. A perpetual lease deed was executed in favor of Suneja on 21.7.1986 by DDA (on behalf of President of India) and was registered on 1.8.1986. Suneja constructed a super structure on the suit property consisting of a basement, ground, second and third floors on a total covered area of about 6749 sq. feet. According to Asman, Suneja approached it offering to sell the suit property and the price was settled at 53.5 lakhs plus the charges payable to DDA.
(3.) Asman says that as the perpetual lease executed by DDA with Suneja imposed a bar on the transfer of the said plot for ten years therefore it entered into a lease arrangement along with an Agreement to Sell to doubly safeguard itself. Suneja agreed to the arrangement, provided the money that was paid as rent representing interest at prevailing market rates on the unpaid balance of sale consideration. A lease deed dated 12.08.1986 was executed and registered with the Sub Registrar, New Delhi, on 13.08.1986. The other document i.e. the Agreement to Sell was executed on 13.08.1986. 5,00,000/- was paid as part consideration to Suneja, through a cheque of the same date, drawn on State Bank of Saurashtra which was accepted by the defendants. The balance amount of 48,50,000/- was payable in terms of the agreement. Asman took the possession of the said property which to their belief was primarily under the agreement to sell and additionally under the lease as well.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
Read More
Sales: sales@the-laws.com
Support: info@the-laws.com
8000853936
9376168072
27, 4TH FLOOR, Agrawal Center, Ashram Road, Income Tax, Ahmadabad 380014.
LOGIN