PRAKASH CHANDRA GANGOLY Vs. NAWN ESTATES PRIVATE LTD

JUDGEMENT

(1.) Has it been proved to the satisfaction of the Court that this suit being Suit No.1969 of 1964, by Prakash Chandra Gangoly against Nawn Estates Private Ltd., principally for specific performance of the contract dated January 22, 1959, to sell 3 odd cottahs of land inside of 6 Brabourne Road, Calcutta, has been adjusted wholly by a lawful agreement come to between them on October 10, 1966 ? That is the question debated before me in the hearing of the plaintiff Gangoly's petition, affirmed on September 12, 1967, and filed in Court on September 14 following, under Order 23, Rule 3 of the Procedure Code (V of 1908), by which the Orders he prays the Court for are - (i) The compromise dated October 10, 1966, be recorded. (ii) A decree be passed in accordance therewith.

(2.) But what is the compromise so come to on October 10, 1966, as the plaintiff Gangoly alleges? The parties had negotiations which culminated in an agreement 'for lease of the suit land' on certain terms, the more important of which are - One, the defendant company will execute a lease in favour of the plaintiff of the land in controversy for a term of 71 years from November 1, 1965, with an option to the lessee for extension for 10 years more. Two, rent Rs.501 a month, subject to an increase by 5% on the expiry of every 12th year from the date of execution of the lease. Three, the plaintiff will pay the defendant company an advance of Rs.1,25,000, the Rent Controller permitting, under Section 5(b) of the Premises Tenancy Act, 12 of 1956. And the monthly rent will be adjusted towards such advance until such time as the whole of it is liquidated. Four, the plaintiff will construct pucca buildings on the land, to be demised so, with good materials; the defendant company in turn will consent to the requisite plan to be submitted to the Corporation of Calcutta for sanction.

(3.) So far then about the agreement for lease of the land in controversy. Now about the suit. On the defendant company executing and registering a lease as aforesaid, the plaintiff will withdraw the suit, each party bearing its costs.