PROMILA MEHRA Vs. J K MEHRA

JUDGEMENT

(1.) Parties to these appeal are the owners of 208, Golf Links, New Delhi. Some disputes arose between them. Suit No.241/2004 was filed in this court. In the said Suit parties settled the matter and decree in terms of settlement was passed. For the execution of the said decree Execution Petition No.181/2006 and No.271/2006 were filed by both the parties. Parties had agreed to sell the suit property. Steps in this behalf were taken to auction the property through the process of the Court. M/s. Vibes Developers Pvt. Ltd. was the highest bidder, whose bid in the sum of Rs.30 crores has been accepted

(2.) It may also be noted at this stage that the parties had moved LNDO for converting the suit property from leasehold into the freehold property since Sale Deed can be executed in favour of the auction purchaser after the property converted into freehold. The proceedings which are going on before the learned Trial Court in the meantime relates to the working out the modalities of making payment by the auction purchaser and handing over of the possession by the parties. The auction purchaser has made the payment of Rs.15 crores to the parties to this appeal. Keys of the First Floor and the Second Floor of the suit property have been handed over to the auction purchaser pursuant to the order passed by the learned Single Judge.

(3.) The appellant was also directed to hand over the possession of the Ground Floor of the suit premises by depositing the keys in the Court. When the matter came up before the learned Single Judge on 15th February, 2007, it was agreed between the parties that vacant peaceful possession of the said portion would be handed over to the purchaser at the end of three months from that day or once the property is converted into freehold whichever is earlier, subject to certain conditions stipulated in that order. However, thereafter on 7th May, 2007 this order was modified with the consent of the parties. It was agreed by the parties that conversion of property from leasehold to freehold would not be linked to the handing over to the possession of the property and the property would be handed over to the purchaser on or before 16th June, 2007 when the sale consideration will also be paid and the Sale Deed would be executed. It was also clarified that in case Sale Deed can not be executed, the major balance sale consideration shall be paid to the parties except a small amount out of the sale consideration, which shall be deposited in the Court, to ensure the presence of the parties to complete the sales transactions. The learned Single Judge also observed that the amount which is to be deposited in the Court shall be decided on the next date of hearing which was fixed as 15th May, 2007.