- (1.) This suit for declaration, permanent injunction and for setting aside the orders made in R.C. No. 159/ 2001 arising out of O.A. No. 151/ 1998 and for setting aside the order dated 26.02.2002 passed by the Debt Recovery Tribunal, New Delhi in Appeal No. 13/ 2002 and for quashing the order of the Recovery Officer whereby the suit property i.e. S-375, 3rd Floor, Greater Kailash-II, New Delhi had been ordered to be put up for public auction on 12.04.2002, has been filed by the Plaintiff against the Defendants alleging that the Plaintiff was a bona fide purchaser for consideration of 3rd floor flat with terrace rights of property no. S-375, 3rd Floor, Greater Kailash-II, New Delhi (suit property). It is alleged that Defendant no. 1 (The Federal Bank Limited) had provided some credit facilities to Defendant no. 2. Defendants no. 3 and 4 are the Directors of Defendant no.2, whereas Defendant no. 5 is the mortgager of the suit property.
(2.) It is alleged that one Jai Dayal Singh purchased freehold plot of land bearing no. S-375 from M/s DLF United Limited vide a registered sale deed dated 12.03.1974. In turn, said Jai Dayal Singh sold the earlier said plot to M/s S.V. Industries through its proprietor Pawan Kumar Singhania vide registered sale deed dated 01.04.1981. M/s S.V. Industries constructed a building on the earlier said plot of land and sold one room on the second floor with construction and ownership rights of the entire 3 rd floor by virtue of the sale deed Ex. PW1/ 25 to one Narender Makhija who further sold the rights of ownership of the above stated portion of the property in favour of Defendant no. 5 (the mortgager) by a registered sale deed dated 07.04.1995 Ex. P1.
(3.) It is alleged that on 26.08.1998, by virtue of a registered lease deed for a period of five years commencing from 02.02.1997, Defendant no. 5 inducted the Plaintiff as a tenant in the suit property. On 22.03.1999, Defendant no. 5 through Defendants no. 3 and 4 executed a registered General Power of Attorney Ex. PW1/ 20 in favour of the Plaintiff whereby the Plaintiff acquired all the rights to deal with the suit property in any manner. Consequently, a sale deed dated 17.08.2000 Ex. PW1/ 25 was executed by Defendant no. 5 in favour of the Plaintiff duly registered in office of Sub-Registrar as Document no. 7749 Volume no. 2012 Additional Book no. 2 at pages 88 to 91.;