Disposed

Tree House Education and Accessories Limited v. Sheth Developers Pvt. Ltd. and 5 Ors.

Bombay HC2 Jul 2013S/519/2013

Case brief

AI extract

What is this about?

Consent order in specific performance suit. Defendants confirmed ownership and validity of MOU; plaintiffs undertook to submit deed for adjudication. Parties agreed to immediate execution and registration of conveyance accompanied by payment of balance consideration and handover of possession. Suit disposed of as withdrawn.

What did the court decide?

The suit and notice of motion were disposed of as withdrawn. Undertakings were accepted for the immediate execution and registration of a Deed of Conveyance subject to stamp adjudication, accompanied

Tree House Education and Accessories Limited Vs Sheth… — Specific Performance | Bombay HC (2013)

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NMS(L) 618 of 2013

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IN THE HIGH COURT OF JUDICTURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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SUIT (L) NO.233 OF 2013 WITH

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NOTICE OF MOTION (L) NO.618 OF 2013

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Tree House Education and Accessories Limited .....Plaintiff Versus Sheth Developers Pvt. Ltd. and Ors. .....Defendants

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Mr. Kunal Vaishnav i/by M/s. Wadia Ghandy and Co., for Plaintiff. Ms. Duraiya S. Retiwala, for Defendant Nos.1 and 2.

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CORAM: S.J.KATHAWALLA, J.

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DATE: 8 th JULY 2013

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P.C. :

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This Application is for Speaking to the Minutes of the Order

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dated 02-07-2013.

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(i) “Paragraph No.2 on page 4/8 be renumbered as paragraph No.4.

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(ii) Paragraph No.2.i on page 5/8 be renumbered as paragraph No.

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4.a.

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(iii) Paragraph No.2.j on page 5/8 be renumbered as paragraph No. 4.b.

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(iv) “Paragraph No.5.k on page 5/8 be renumbered as paragraph No. 5.a.

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(v) “Paragraph No.5.l on page 6/8 be renumbered as paragraph No.

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NMS(L) 618 of 2013

5.b.

(vi) “Paragraph No.5.m on page 6/8 be renumbered as paragraph

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No.5.c.

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(vii) In paragraph No.5.m on page 6/8 on the 3^rd Line, the cross reference '3(a)' be replaced with '5(a)'.

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Application for Speaking to the Minutes is accordingly disposed of. Time to have the Suit numbered is extended by one week from today.

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( S.J.KATHAWALLA, J. )

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NMS(L) 618 of 2013

IN THE HIGH COURT OF JUDICTURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION SUIT (L) NO.233 OF 2013 WITH

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NOTICE OF MOTION (L) NO.618 OF 2013

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Tree House Education and Accessories Limited .....Plaintiff Versus

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Sheth Developers Pvt. Ltd. and Ors.

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.....Defendants

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Mr. Janak Dwarkadas, Senior Advocate with Mr. Karl Tamboly, Mr. Kunal Vajani, Mr. Kunal Vaishnav i/by M/s. Wadia Ghandy and Co., for the Plaintiff.

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Authorized representative of the Plaintiff present.

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Mr. C.M. Shastry, for Indian Bank.

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Mr. Minoo D. Siodia with D. S. Retiwala, for Defendant Nos.1 and 2.

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CORAM: S.J.KATHAWALLA, J. DATE: 2 nd JULY 2013

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P.C. :

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On 22-03-2013, an Application for urgent ad-interim relief

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was made before this Court on behalf of the Plaintiff. At that time, Mr. Samdani, learned Senior Advocate appearing for Defendant Nos.3 and 4 had objected to Defendant Nos.3 and 4 being joined as party Defendants to the Suit on the ground that no cause of action is disclosed in the Suit against the Defendant Nos.3 and 4 who are also not concerned with the subject matter of the Suit. Thereupon, Mr. Siodia, learned Advocate

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appearing for Defendant No.1 on instructions, stated that the property which is agreed to be transferred by Defendant No.1 through Defendant

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NMS(L) 618 of 2013

No.2 in favour of the Plaintiff is not a property leased to the Defendant Nos.3 and 4 and is not the subject matter of the charged agreed in favour of LIC Housing. The Statement was accepted.

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In view thereof, the learned Senior Advocate appearing for the Plaintiff, on instructions, did not press the Suit against Defendant Nos.3 to 6 and the Suit against Defendant Nos.3 to 6 stood dismissed. The parties as well as the Indian Bank have now agreed to the following order being passed by consent :

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On instructions the Learned Counsel appearing on behalf of Defendant Nos.1 and 2 makes the following statements:-

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a. Defendant Nos.1 and 2 agree and confirm that Defendant No.2 is the owner of the land lying and being at Village Mouje Pahadi, Goregaon Taluka, Borivali bearing CTS No.236/A/3 approximately admeasuring 4394.5 sq. meters [‘ said Plot ’] i.e. the subject matter of the present suit and that the said Plot is not leased/ mortgaged/ encumbered in any manner whatsoever by the Defendant no.1 and/or Defendant no.2.

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b. Defendant Nos.1 and 2 agree and confirm that the termination notice dated 6^th March, 2013 addressed by Defendant No.1 to the Plaintiff stands withdrawn.

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c. Defendant Nos.1 and 2 agree and confirm that the memorandum

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NMS(L) 618 of 2013

of understanding dated 16^th July, 2011 in respect of the said Plot [‘ said MOU ’] is valid, subsisting and binding.

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d. Defendant Nos. 1 and 2 agree and confirm that the said Plot shall be conveyed to the Plaintiff by Defendant Nos.1 and 2 for the consideration mentioned in the said MOU i.e. a total consideration amount of Rs.20,25,00,000/- [Rupees Twenty Crores Twenty Five Lacs only].

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e. Defendant Nos. 1 and 2 agree and confirm that the Plaintiff has already paid the Defendant No.1 a sum of Rs.3,00,00,000/[Rupees Three Crores only] at the time of executing the said MOU and the balance consideration aggregating to a sum of Rs.17,25,00,000/- [Rupees Seventeen Crores Twenty Five Lacs only] shall be paid to Defendant No.1 simultaneously with the execution and registration of the Deed of Conveyance of the said plot in favour of the Plaintiff.

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f. The authorised representatives of Defendant Nos.1 and 2 agree and undertake to attend the office of the concerned SubRegistrar of Assurances, for the purpose of execution and registration of the Deed of Conveyance of the said Plot in favour of the Plaintiff, within 3 [three] working days from the date on which an intimation in writing is received from the Plaintiff notifying the Defendant Nos. 1 and 2 of the receipt of the Deed of Conveyance duly adjudicated by the office of the Collector of Stamps.

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NMS(L) 618 of 2013

g. Simultaneously, with the execution of the Deed of Conveyance, the authorised representatives of Defendant Nos.1 and 2 agree and undertake to execute the NOC in the format prescribed by the Stamp Office for facilitating the refund of the stamp duty purchased by the Plaintiff from the Collector of Stamps, Borivali Office vide Certificate No.1/183 dated 9^th February, 2013 amounting to Rs.1,44,25,000/- [Rupees One Crore Forty Four Lacs and Twenty Five Thousand only] and also agree and undertake to assist/ execute such further as the Stamp Office may require in that regard.

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h. Defendant Nos.1 and 2 agree and undertake that immediately upon the execution and registration of the Deed of Conveyance of the said Plot in favour of the Plaintiff and handing over by the Plaintiff to the authorised representative of Defendant No.1 the demand drafts bearing Nos.729028 to 729046 all dated 29^th June, 2013 issued by Indian Bank, Matunga Bazaar Branch in favour of Defendant No.1 totalling to the sum of Rs.17,25,00,000/- [Rupees Seventeen Crores Twenty Five Lacs only], being the balance consideration payable by the Plaintiff to Defendant No.1 in respect of the said Plot, the Defendant Nos.1 and 2 shall handover to the Plaintiff quiet, vacant and peaceful possession of the said Plot.

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On instructions the Learned Senior Counsel appearing on behalf of the Plaintiff makes the following statements:-

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NMS(L) 618 of 2013

i. The Plaintiff agrees and undertakes to within 2 [two] days from the date of this Order, submit the Deed of Conveyance to the concerned office of the Collector of Stamps for the purpose of adjudication.

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j. Simultaneously with the execution and registration of the Deed of Conveyance of the said plot in favour of the Plaintiff, the Plaintiff agrees and undertakes to handover to the authorised representative of Defendant No.1 the demand drafts bearing Nos.729028 to 729046 all dated 29^th June, 2013 issued by Indian Bank, Matunga Bazaar Branch in favour of Defendant No.1 totalling to the sum of Rs.17,25,00,000/- [Rupees Seventeen Crores Twenty Five Lacs only], being the balance consideration payable by the Plaintiff to Defendant No.1 in respect of the said Plot.

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On instructions the Learned Senior Counsel appearing on behalf of the Plaintiff and the Learned Counsel appearing on behalf of Defendant Nos.1 and 2 make the following statements:-

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k. In the event the Deed of Conveyance is not adjudicated by the office of the Collector of Stamps within 4 [four] weeks from the date of this Order, the Plaintiff and Defendant Nos.1 and 2 and their respective Advocates shall meet on 1^st August, 2013 at which time the parties shall sign the Deed of Conveyance and the Plaintiff shall handover to the authorised representative of Defendant No.1 the demand drafts bearing Nos.729028 to

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NMS(L) 618 of 2013

729046 all dated 29^th June, 2013 issued by Indian Bank, Matunga Bazaar Branch in favour of Defendant No.1 totalling to the sum of Rs.17,25,00,000/- [Rupees Seventeen Crores Twenty Five Lacs only], being the balance consideration payable by the Plaintiff to Defendant No.1 in respect of the said Plot.

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l. Immediately upon signing of the Deed of Conveyance and the of the said Plot in favour of the Plaintiff and handing over by the Plaintiff to the authorised representative of Defendant No.1 the demand drafts bearing Nos.729028 to 729046 all dated 29^th June, 2013 issued by Indian Bank, Matunga Bazaar Branch in favour of Defendant No.1 totalling to the sum of Rs.17,25,00,000/- [Rupees Seventeen Crores Twenty Five Lacs only], being the balance consideration payable by the Plaintiff to Defendant No.1 in respect of the said Plot, the Defendant Nos.1 and 2 shall handover to the Plaintiff quiet, vacant and peaceful possession of the said Plot.

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m. Defendant Nos.1 and 2 agree and undertake that pursuant to the balance consideration being paid to them as contemplated in para 3. (a) above they shall attend the office of the concerned Sub-Registrar of Assurances, for the purpose of registration of the Deed of Conveyance of the said Plot in favour of the Plaintiff, within 7 [seven] working days from the date on which an intimation in writing is received from the Plaintiff notifying the Defendant Nos.1 and 2 of the receipt of the Deed of Conveyance duly adjudicated by the office of the Collector of Stamps

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NMS(L) 618 of 2013

Defendant No. 6 has vide its letter dated 24^th June, 2013 addressed to the Advocates of the Plaintiff with a copy marked to Defendant No. 5 confirmed that loan granted to Defendant Nos. 3 and 4 has been repaid in full & the charge created in favour of Defendant No. 6 has been released. A copy of the letter dated 24^th June, 2013 addressed by Defendant No. 6 to the Advocates of the Plaintiff is taken on record and marked as Exhibit ‘X’ for identification.

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The parties agree and confirm that the interim orders passed in the Notice of Motion shall continue to operate till the execution and registration of the Deed of Conveyance of the said plot in favour of the Plaintiff.

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The above statements are accepted and undertakings are accepted.

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The Suit and Notice of Motion stands disposed off as withdrawn in terms of this Order.

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Court Fees to be refunded as per the Court Fees Act, 1959. No order as to costs.

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Certified copies of this Order to be expedited.

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The undertakings of the parties are accepted. The Suit is accordingly disposed of. The Notice of Motion (L) No.618 of 2013 also

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NMS(L) 618 of 2013

stands disposed of.

The learned Advocate on record for the Plaintiff undertakes to

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have the Suit numbered within a period of one week from today.

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( S.J.KATHAWALLA, J. )

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Tree House Education and Accessories Limited v. Sheth Developers Pvt. Ltd. and 5 Ors.

Case brief

What is this about?

What did the court decide?

Tree House Education and Accessories Limited v. Sheth Developers Pvt. Ltd. and 5 Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

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