NEW RISING SUN CHSL Vs. K. BHATIA REALTORS

JUDGEMENT

(1.) This is not an order on merits in the IA or Suit. Both sides have taken instructions and are agreeable to my noting what follows. It is intended as a guidance to the parties to a possible settlement of all disputes to the Suit. It is a list of items to which both parties in negotiations must address themselves so that there are no further disputes going forward. This is of course not only without prejudice to the respective rights and contentions of the parties but no equities will be claimed and none of the parties will be entitled to say that they are bound by the suggestions that follow in this order. It is, therefore, not a binding direction on any of the three parties.

(2.) The Plaintiff is a cooperative housing society of 13 members. The 1st Defendant was the original developer appointed under a Development Agreement dated 30th August 2010. This is to be read with the First Supplemental Agreement dated 27th April 2011 and the Second Supplemental Agreement dated 22nd July 2014. That Development Agreement suffered the usual troubles and then there came to be an Agreement dated 23rd March 2018 by which the 2nd Defendant entered as a replacement developer and the 1st Defendant exited the development project. There is a stated consideration to be given by the 2nd Defendant to the 1st Defendant under the terms of the 23rd March 2018 Agreement. The Plaintiff society is a party to the 23rd March 2018 Agreement. This is the relevant background, shortly stated.

(3.) In the IA, the Plaintiffs claim an amount of over Rs. 2.50 crores payable to the members of the society as unpaid arrears of transit rent accommodation. Obviously, this would have been the liability of the 1st Defendant but has now been assumed by the 2nd Defendant.