- (1.) Leave granted. We have heard learned Counsel for the appellants, the first respondent and the Receiver appointed by the High Court, who was impleaded on the direction of this Court as the second respondent.
(2.) The first respondent herein filed a suit for specific performance against the appellants herein. That suit was dismissed by a learned single Judge of the High Court in the year 1981. The first respondent filed an appeal against the dismissal of the suit before the Division Bench of the High Court. During the pendency of the appeal, the parties (first respondent and appellants) arrived at a settlement and in terms of the said settlement, the suit was decreed on 5.8.1986. Under the terms of settlement, the appellants agreed to sell 90 Kottahs of land to the first respondent or his nominees at a price of Rs. 10,000/- per Kottah. Clauses 3, 6 and 7 of the 'Terms of Settlement' which are relevant, are extracted below:
(3.) Immediately after the filing of these terms of settlement, the plaintiff shall pay to the defendants a sum of Rs. 3,00,000/- (Rupees Three Lacs only) in part payment of the consideration and the balance sum of Rs. 6,00,000/- (Rupees Six Lacs only) shall be paid of the time of completion of the conveyance and if several deeds of conveyance are executed for the parts of portions of the said premises then and in that event the said amount of consideration shall be apportioned and such amount as apportioned shall be paid of the time of execution of each deed of conveyance after taking into account the advance payment of Rs. 3,00,000/- (Rupees Three Lacs only) paid by the plaintiff. 6. After approval of the title by the plaintiff if the defendants fail to obtain a certificate under Section 230A of the Indian Income Tax Act, 1961 or fail to obtain also permission of the competent authority if required under the provisions of the Urban Land (Ceiling Regulations) Act, 1976 as required then and in that event, Mr. Dip Narayan Mitra is appointed Receiver over and in respect of the said property without authority and without remuneration and is directed to execute a Deed or Conveyance and/or conveyance in favour of the plaintiff or his nominee as provided for under these terms of settlement. 7. Simultaneously with the execution of the Deed or Conveyance in accordance with these terms of settlement as hereinafter mentioned the plaintiff shall make over to the defendants or to the Receiver as the case may be the balance consideration money less any amount which may be paid or deducted by the plaintiff on account of municipal taxes and other outgoings in respect of the said property in accordance with these Terms of Settlement. In that event, the balance consideration is made over to the Receiver the same shall be made over by the Receiver to the defendants and upon such payment the Receiver shall stand discharged and filing of the account by the Receiver shall be dispensed with. In pursuance of Clause (6) of the Terms of Settlement, the second respondent herein was appointed as Receiver. In pursuance of the settlement, after payment of Rs. 3,00,000/- to the appellants, the balance sale consideration of Rs. 6,00,000/- was deposited with the Receiver. 3. By letters dated 7.10.1986, 11.12.1986 and 22.12.1986, the appellants informed the Receiver that, in pursuance of the consent decree, they had transferred the suit premises to eleven nominees of the first respondent under different deeds of sale and gave the following instructions to the Receiver in regard to Rs. 6,00,000/- deposited by the purchasers: It has been agreed between us and Mr. Basant Kumar Almal that out of the said amount of Rs. 6,00,000/- lying presently with you a sum of Rs. 3,00,000/- will be paid to Park Services Pvt. Ltd. of 119, Park Street, Calcutta towards payment of the statutory liability and other outgoings in respect of the said premises and such payment shall be a full and effectual discharge of the payment to be made by you. Out of the balance sum of Rs. 3,00,000/- you are requested to prepare three cheques of Rs. 1,00,000/- each in the names of Amal Kumar Ghosh, Debabrata Ghosh and Subrata Ghosh respectively.;