PVR LTD Vs. RIDGE VIEW CONSTRUCTION PVT LTD

JUDGEMENT

(1.) The bone of contention is an application moved by the plaintiff under Order 39 Rules 1 & 2 read with Section 151 of the Code of Civil Procedure for the grant of ad-interim-injunction restraining the defendants from transferring, alienating or parting with possession of the suit premises to any person in any manner whatsoever. The defendants, as expected, have stoutly resisted the same.

(2.) Before I deal with the contentions raised a bird eye view of the disputes giving rise to the application is needed, for, it would provide the necessary background.

(3.) Defendant No. 1 happened to be the owner of commercial plot No. D-2, situated in District Centre, Saket through perpetual lease deed dated 1.7.2004 executed in its favour by Delhi Development Authority. On May 14,2005, it entered into an Agreement to Lease with the plaintiff Company through defendant No. 2 little realising that it would give rise to contentitious litigation. By the said Agreement, the plaintiff Company agreed to take on lease office space ad-measuring super area of 16,417.91 sq. ft. equivalent to covered area of 11,000 sq. ft. covered area on the second floor of the building which was yet to be constructed, on a monthly lease rent of Rs. 57.50 per sq. ft. It also, agreed to advance a sum of Rs. 56,64,178/- as interest free security. This amount was to be paid in two equal instalments. The first was to be paid at the time of the execution of the said Agreement and the second at the time of delivery of provisional possession for fit outs and interiors of the lease premises. The lease rent was actually to start from the date of final handing over of the demised premises to the plaintiff. It is the common case of the parties that on April 13, 2005 first instalment towards the security amount was paid by the plaintiff.