- (1.) Leave granted.
(2.) On 27.5.1949 one Sowar Ramji Vaity was given a grant by the Collector of Thane, which entitled him to lease of the lands in Serial Nos.83-91 in village Mulund for a term of 999 years. Sowar Ramji Vaity died in 1965 leaving behind him four legal representatives, namely, Jagannath, Babu, Vishnu and Bhaskar. On 1.10.1973 the Vaitys entered into an Agreement with one K.L. Danani to sell their rights and interests in the said land for a total consideration of Rs.2 lakhs. In between April and June 1974, Mr. K.L. Danani constituted a partnership firm with one Mr. K.B. Thakkar and S.S. Thakkar under the name of M/s Swas Construction Company. B.K. Thakkar, the appellant herein, who was then a minor, was also admitted to the benefits of the partnership firm. As his contribution towards the partnership firm K.L. Danani brought the benefits of the said Agreement dated 1.10.1973 to the partnership firm. In 1976, with the enactment of the Urban Land (Ceiling and Regulation) Act, 1976, K.L. Danani claiming to be in possession of the lands in question under the Agreement dated 1.10.1973 filed a statement as required under Section 6(1) of the aforesaid Act. On 12.6.1979 the Government of Maharashtra executed a lease in favour of the Vaitys for a total term of 60 years.
(3.) Soon, thereafter, on 18.6.1979 the Vaitys entered into another Agreement with M/s Modern Development Corporation granting them development rights over the same properties. Clause 14 of the Agreement mentioned the fact that the Vaitys had entered into an Agreement to sell the said lands to M/s Thakkar and Associates. M/s Modern Development Corporation, in their turn entered into an Agreement with Kiran Construction Company, the respondent No.1 herein, to transfer its beneficial interest in the suit land, except for Sl.No.91, in favour of the said respondent No.1. Clause 12 of the said Agreement required Modern Development Corporation to obtain confirmation from M/s Thakkar and Associates that there was no subsisting Agreement for sale in their favour in respect of the property agreed to be sold.;