NARENDER JAIN Vs. ANIS AHMED RUSHDIE

JUDGEMENT

(1.) These appeals are directed against an order dtd. 24/12/2019 (hereafter 'the impugned order') delivered by the learned Single Judge in CS(OS) No.994/1977. The said suit was instituted for specific performance of an Agreement to Sell dtd. 22/12/1970 (hereafter 'the Agreement to Sell') in respect of property ad-measuring 5373 sq. yds. bearing No.4 Flagstaff Road, Civil Lines, Delhi (hereafter 'the suit property'). The said suit was decreed by the Supreme Court in terms of a judgment dtd. 3/12/2012 rendered in Civil Appeal No.8653/2012 and other connected appeals.

(2.) The Supreme Court directed specific performance of the Agreement to Sell, albeit at a consideration equivalent to market price as prevailing on the date of the said decision, that is, on 3/12/2012. Since there was no material to determine the said sale consideration, the Supreme Court remitted the matter to the Trial Court (learned Single Judge of this Court) to undertake the exercise of determining the market value of the suit property as on 3/12/2012.

(3.) The learned Single Judge, passed the impugned order determining the market value of the suit property, as on 3/12/2012, at Rs.130.00 crores. However, the learned Single Judge also directed that on failure of the plaintiffs to pay the said price, the defendant will sell the suit property at the said price within the stipulated period. And, if the defendant also fails to sell the suit property for the aforementioned price within the period of sixty days, the plaintiffs would be entitled to purchase the suit property at Rs.75.00 crores.