Ravinder Singh & Anr v. Saresh Chand Punj Alias Suresh Chand Punj (Since Deceased)

RAJIV SAHAI ENDLAW, J.

MARCH 26, 2019 "pp".. (corrected and released on 16.4.2019)

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of decision: 26th March, 2019 + CS(OS) No.169/2019 & IA No.4367/2019 (u/O XXXIX R-1&2 CPC). RAVINDER SINGH & ANR. ..... Plaintiffs Through: Mr. Vijay Kr. Gupta and Mr. Mehul Gupta, Advs. versus SARESH CHAND PUNJ ALIAS SURESH CHAND PUNJ (SINCE DECEASED) THROUGH LRs & ORS ..... Defendants Through: None. CORAM: HON'BLE MR. JUSTICE RAJIV SAHAI ENDLAW IA No.4368/2019 (for exemption). 1. Allowed, subject to just exceptions. 2. The application stands disposed of. CS(OS) No.169/2019 & IA No.4367/2019 (u/O XXXIX R-1&2 CPC). 3. The two plaintiffs viz Ravinder Singh and Puneet Bahri have instituted this "suit for specific performance and permanent injunction" pleading:- (i) that a) the deceased defendant no.1 Saresh Chand Punj @ Suresh Chand Punj (represented by his wife, daughter and two sons); b) defendant no.2 Vinod Kumar Punj @ Venode Kumar; and, c) Late Smt. Shashi Bala were the auction purchasers from the Office of Settlement Commissioner, Ministry of Rehabilitation, of leasehold property built on land ad measuring 200 sq. yds. bearing no.30 Block No.47-E, East Patel Nagar, Delhi; (ii) that M/s Zenith Exports (India), a partnership of defendants no.1&2 had availed of financial assistance from Punjab & Sindh Bank; (iii) that the deceased defendants no.1&2 had mortgaged their 1/3rd share each in the aforesaid property with Punjab & Sindh Bank and Smt. Shashi Bala had stood as personal guarantor for repayment of the financial assistance availed of from Punjab & Sindh Bank; Smt. Shashi Bala died intestate on 10th September, 1982 leaving deceased defendant no.1 and defendant no.2 as her sons and the deceased defendant no.1 and defendant no.2 equally inherited 1/3rd share in the suit property of Smt. Shashi Bala, making the deceased defendant no.1 and defendant no.2 owners in equal share of the property; (iv) that in the year 1985, Punjab & Sindh Bank instituted a suit for recovery of Rs.2,93,779.84/- in the High Court of Delhi and vide judgment and decree dated 20th February, 2002 the said suit was allowed and the decree therein subsequently transferred to the Debt Recovery Tribunal (DRT)-02, New Delhi and Recovery Certificate No.85/2009 issued with 2/3rd share of the property continuing to be mortgaged with Punjab & Sindh Bank; (v) that vide order dated 18th September, 2017 the remaining 1/3rd share of the property was also attached; in this manner the whole property was attached; however the matter remained sub judice before the Recovery Officer, DRT-02, Delhi and the property could not be auctioned; (vi) that the defendant no.1 died leaving his wife, daughter and two sons; (vii) that the defendants no.1&2 made the defendant no.3 Deepak Sharma their agent and an Agreement to Sell dated 31st August, 2017 was executed between defendant no.3 and defendant no.1(c) who is one of the sons of the defendant no.1 acting on behalf of other heirs of defendant no.1 as well as defendant no.2, whereunder the defendant no.3 paid a sum of Rs.1 crore to the defendant no.1 and deposited Rs.4.90 crores with the DRT; the defendants no.1&2 also nominated the defendant no.3 to look for a buyer with respect to the subject property; (viii) that the defendant no.3 acting on behalf of defendants no.1&2 and claiming to be successful buyer in DRT proceedings vide Recovery Certificate No.85/2009, entered into an Agreement to Sell dated 30th October, 2017 with the plaintiff no.2, of sale of the said property to the plaintiff no.2 for Rs.7.75 crores; the plaintiff no.2 paid earnest money of Rs.50,00,000/- vide cheques dated 28th October, 2017 and 4th November, 2017 to the defendant no.3; the plaintiff no.2 transferred another sum of Rs.5,00,000/- to the defendant no.3 via RTGS on 15th December, 2017; (ix) that the defendant no.3, acting on behalf of defendants no.1&2 entered into another Agreement to Sell dated 2nd November, 2017 with the plaintiff no.1 for sale of the said property for a total consideration of Rs.8.