NATIONAL AGRICULTURAL CO-OPERATIVE Vs. RAJESH KHANNA

JUDGEMENT

(1.) THIS Court on 6th July, 2006 in OMP No. 291/06 wherein the contemnor Rajesh Khanna was respondent no. 1 passed an order attaching the immovable properties mentioned in para 10 and 11 of the petition. The properties so attached included plot no. 1, Special Economic zone (SEZ), Noida, UP, a plot measuring 2118 square meters allotted to rajesh Khanna. The total numbers of properties attached were 13 belonging to different respondents. The petitioner had sought attachment of the properties since the petitioner had to recover an outstanding admitted balance of Rs. 47,80,90,896/- as on 30th May, 2006. Vide order dated 16th May, 2007, this Court lifted the attachment in respect of property no. E-19, East of Kailash in view of the fact that the parties wanted to settle the dispute and this property was to be sold to enable the respondent to pay part of the dues to the petitioner. This Court on 14th December, 2007 at request of the parties further lifted attachment in respect of properties namely E-18, East of Kailash, E-16, Block B-1, Mohan cooperative Industrial Area so that the properties could be sold by the public auction and the claims of the petitioner be settled. This Court also appointed a court observer for carrying out public auction of the properties. The petitioner thereafter learnt that the respondent Rajesh khanna had clandestinely sold property of Noida attached by the Court vide order dated 6th July, 2006 and filed this application for Contempt of the Court.

(2.) THE petitioner submitted that the admitted liability of the respondent as on 30th April, 2007 was Rs. 61. 67 crore and the respondent was supposed to discharge this liability within a definite time schedule as per the settlement arrived at between the parties and recorded in the court's order. Out of the due amount, Rs. 5 crore was to be paid within 30 days from the date of the permission granted by the Court for sale of the property no. E-19, East of Kailash, a further amount of Rs. 20 crore was undertaken to be paid within next 60 days and an amount of Rs. 18 crore within 90 days.

(3.) THE settlement as arrived at between the parties is on record. A perusal of this settlement would show that the settlement arrived at between the petitioner and the respondents no. 1 to 8 was recorded on a non-judicial stamp paper of Rs. 100/ -. It was signed by all the parties and was submitted in the Court along with affidavits and undertakings of all the respondents undertaking to comply with this settlement. The affidavits of respondents showed that all the respondents had also given personal guarantee for repayment of the loan in terms of the settlement. In fact, the respondents were also facing criminal case lodged against them by the petitioner because of a fraud played by the respondents upon the petitioner and criminal proceedings were simultaneously going on. The parties made IA No. 5743/2007 in OMP No. 291/06 wherein a submission was made by the respondents that they shall be bound by the undertakings given to the Court for implementation of the settlement and to comply with the terms of the settlement. Be it noted that the orders of this Court of attachment of respondent of the properties continued and was not lifted. After recording of settlement attachment was only lifted in respect of the three properties which the respondents expressed their desire to sell to discharge their liability.