SHANTILAL J SHAH Vs. JITENDRA SANGHAVI

JUDGEMENT

(1.) THE above suit is filed by the plaintiffs for, a declaration that the Development Agreement dated 25th September 2007 (Exhibit-A to the plaint) ("the said Agreement") entered into between the plaintiffs and defendant Nos. 1 to 3 and the Irrevocable Power of Attorney dated 25th October 2007 (Exhibit-B to the plaint) ("the said POA") are valid, subsisting and binding on the plaintiffs and defendant Nos. 1 to 3 and also a declaration that the purported letter of termination dated 4th October 2011 (Exhibit-E to the plaint), terminating the said Agreement and the said POA, is illegal, wrongful, null and void, for possession from defendant Nos. 1 to 4 of the immovable property situated at Plot No. 270, Deodhar Road, Matunga, bearing New Survey No. 885 and Cadastral Survey No. 205/10 of Dadar-Matunga Division, Mumbai-400 019 along with the building known as "Padmavati Sadan" thereon consisting of ground plus 3 floors comprising of 19 tenements ("the suit property") and ordering and directing the defendant Nos. 1 to 4 to do all such acts, deeds and things and execute and sign all documents and papers as are necessary for effectively acting upon, performing and implementing the said Agreement. The plaintiffs have also taken out the above Notice of Motion seeking interim reliefs, that is, appointment of Court Receiver of the suit property and to restrain the defendants by an order and injunction from in any manner alienating, encumbering, selling, transferring and/ or creating any third party right, title and/ or interest in respect of the suit property or any part thereof.

(2.) THE facts are briefly are set out hereunder:

(3.) UPON execution of this Agreement, the Developers shall proceed with the development work on the said property, however, at their own costs and risk, so also in accordance with the Development Control Regulations.