Svc Co. Operative Bank Limited v. Manek Nagar Abc Co. Operative Housing Society Ltd.
Case brief
What is this about?
Bombay High Court OOCJ Suit (L) No. 11552 of 2024; SVC Co-operative Bank Ltd v Manek Nagar A.B.C. CHS Ltd & Ors (Defendant No. 2 Mahavir Land Developers LLP); redevelopment of Kandivali society building; consent terms April 2025; Permanent Alternate Accommodation Agreement (PAA); allotment of 2,114 sq. ft. carpet area (Shop 1065 sq. ft. ground floor + Commercial unit 1,049 sq. ft. first floor) free of cost on ownership basis; IOD dated 12.02.2025; reduced area 24 sq. ft. + 16 sq. ft. due to column structures; Development Agreement dated 04.04.2024; joint meeting 20.07.2024; suit disposed of on consent; revival clause on breach; refund of court fees; no order as to costs; no judicial holdings; no case law cited.
What did the court decide?
By consent: (i) Defendant No. 2 to assign and allot to the Plaintiff free of cost and on ownership basis new premises aggregating 2,114 sq. ft. carpet area (Shop of 1065 sq. ft. on Ground floor and Commercial unit of 1,049 sq. ft. on First floor of the proposed new building) together with two nonmechanized surface car parking spaces between 2nd to 5th Podium, without internal lift/staircase (first-floor access through common staircase); (ii) Defendant No. 2 to bear stamp duty, registration charges and other charges/levies (except GST, if applicable); (iii) Defendant No. 2 to add/load back the reduced area (24 sq. ft. ground floor + 16 sq. ft. first floor) and amend layout/floor plans at the stage of the further Commencement Certificate, constructing and handing over the agreed area without variation or reduction; (iv) Plaintiff and Defendants to execute and register PAA Agreements incorporating the agreed area within 5 working days of signing the consent terms, upon execution of which and passing of order the Plaintiff to hand over vacant possession; (v) Defendant No. 2 to provide monthly rentals, hardship compensation, shifting/transportation allowance and one-time brokerage as per the Development Agreement dated April 04, 2024; (vi) refund of court fees as per rules; (vii) no order as to costs; (viii) if the parties fail to perform the agreed terms and execute the PAA Agreement, the present suit shall stand revived with the Plaintiff entitled to claim the reliefs provided in the plaint.