M/S Skyland Builders Pvt Ltd v. Indian Overseas Bank

ORDER %

21.11.2011 The plaintiff has filed a suit for recovery of Rs 1,02,85,500/- against the respondent-bank. The claim of the plaintiff arises from the tenancy created in favour of respondent consisting of ground floor, first floor and second floor of premises known as B-2, Shopping Centre, Safdarjang Enclave, New Delhi, more specifically described in para 2 of the plaint, i.e., CS(OS) No. 620/2010. Theplaintiffstatesthatthe defendantwas a tenant in the suitproperty, but in terms of order passed in REA No. 113/1998 the defendant-bank had to vacate the premises on or before 31.10.1999. However, the defendant-bank againapproachedtheplaintifffortakingthepropertyon leaseafreshfor a CS(OS)Nos.1689/2011& 620/2010 Page 1of3 Certify that the digital and physical file have been compared and the digital data is as per the physical file and no page is missing. periodoftenyearsw.e.f.01.11.1999to 31.10.2009with an additionalportion of secondfloor measuring 1330 sq. ft. and thus increasingthe total area to 5712.50 sq. ft. at Rs 32 per sq. ft. per month amountingto Rs 1,82,800per month. The rate was to increaseby 25% after the expiry of the first five years and was payable at Rs 2,28,500/- per month from 01.11.2004 to

31.10.2009. In pursuance of the aforesaid arrangementthe parties executed a registeredlease deed dated 22.11.1999,which was registeredon the same day. The disputebetweenthe partiesarose as the premiseswere not vacated by the defendantbankand the endeavourofthe partiesto arriveat amutually agreedrate ofrent for furtherrenewal,was not successful. The plaintiffhas thus claimed mesne profit/damagesfor unauthorizeduse and occupationof the propertyat Rs 400 per sq. ft. per month amountingto Rs 22,85,000/-per monthw.e.f. 01.11.2009,deductionbeing made from the rent alreadypaid. The partieshave re-negotiatedthe terms and it is stated before us on instructionsby learnedcounselsfor the parties that the plaintiff is agreeable to lease the said premises to the respondentat the rate of Rs 240 per sq. ft. y w.e.f01.11.2009for aperiodoften yearswith an enhancementof25% in the rent on the expiry of the first five years for the remaining five years. The parties also state that they will execute the fresh lease deed in terms of the aforesaid arrangement and the other terms and conditions of the lease deed would remain same as per the last lease deed. It is also agreed that the arrears of rent would be paid within a period of one month from today within which period of time the fresh lease deed CS(OS)Nos. 1689/2011& 620/2010 (If'''' .y will also be executedand registered. The second suit, being CS(OS) No. 1689/2011 has been filed for possessionon accountofthe defendant-banknot vacatingthe premisesand thusboththe suitsmentionedaforesaidhas beencompromisedin termsofthe settlementagreed to betweenthe parties and are, accordingly,liable to be decreed. Needlessto say thatthe two partiesare representedby duly authorized persons,who have an authorityto settlethis disputein termsofthe aforesaid. The decreesheetbedrawnup accordingly. The parties and their counsel have appended their signatureon the order sheet in the token of acceptance. Boththe captionedsuitsand all pendingapplicationsdo not survivefor considerationand, accordingly,standdisposedof. NOVEMBER 21, 20II kk CS(OS)Nos.1689/2011&620/2010 SANJAY KISHAN KAUL,J RAJIV SHAKDHER, J ^/Ac/rA

$-13 * IN THE HIGH COURT OF DELHI AT NEW DELHI + CS(OS) Nos. 1689/2011& 620/2010 SKYLAND BUILDERS PVT LTD Plaintiff Through: Mr Sanjay Narula & Mr Ashish Virmani, Advs. with Authorized Representative of Appellant. versus INDIAN OVERSEAS BANK & ANR. Defendants Through: Mr Kailash Vasdev, Sr. Adv. with Mr Karan Khanna, Advs. with Mr K.K. Soni, General Manager of Respondent/Bank. CORAM: HON'BLE MR. JUSTICE SANJAY KISHAN KAUL HON'BLE MR. JUSTICE RAJIV SHAKDHER