EXCEL ENTERPRISES Vs. MAHENDRA KARSANDAS MEHTA

JUDGEMENT

(1.) The above Suit is filed by the Plaintiffs for a declaration that there is a valid and binding Agreement/MoU dated 28th September, 2012 (Exhibit-D to the Plaint) and Deed of Assignment dated June, 2014 ( Exhibit-E to the Plaint), between the parties to the said Documents, and that this Court be pleased to pass an order and decree against Defendant No. 1 to specifically perform and comply with his obligations under the MoU dated 28th September, 2012. The Plaintiffs have subsequently amended the Plaint and have inter alia also sought a declaration that the Plaintiffs, as co-owners of the property admeasuring 1957 sq.yds. equivalent to 1636.28 sq. mtrs. or thereabouts, bearing CTS Nos. 4581 to 4600 (Part), near Rajawadi Post Office, Ghatkopar (East), Mumbai-400 077, together with the structures standing thereon and known as 'Janjira Chawl' and "Janjira House' ("the Suit Property"), are entitled to redevelop the Suit Property, by reconstruction of the buildings, on such terms and conditions as this Court may deem fit and proper, including, inter alia, by maintaining accounts with regard to the redevelopment of the Suit Property. The Plaintiffs being 50% coowners of the Suit Property, on which the buildings 'Janjira Chawl' amd 'Janjira House' stand, in a dilapidated state, posing grave threat to the lives of the tenants and their family members residing therein, have taken out the above Notice of Motion seeking permission of the Court at the interim stage to redevelop the Suit Property as agents of the Court Receiver, without royalty, and on such terms as this Court deems fit to grant.

(2.) The facts which have led the Plaintiffs to file the present Suit, are briefly set out hereunder:

(3.) The Learned Senior Advocate appearing for the Plaintiffs has made the following submissions: