- (1.) Leave granted.
(2.) The appellant herein,. Julien Educational Trust, claims to be a benevolent trust created by a registered Deed of Trust dated 30.07.1970 for the purpose of encouraging education and other allied activities. It claims to be registered under Section 12A of the Income Tax Act, 1961, and has its registered office at 35E, Elgin Road, P.S. Bhowanipore, Kolkata-700020. The appellant runs a reputed school, known as Julien Day School, at premises No. 4, Umananda Road and 35E, Elgin Road, P.S. Bhowanipore, Kolkata-700020, which are two adjacent premises. The respondents are the joint owners of 15 Cottahs 8 Chittaks 29 square feet of land, including a three-storied old dilapidated structure and garage and outhouses constructed thereon, being premises No. 3/1, Heysham Road, Police Station Bhowanipore, Kolkata.
(3.) Since the said land was adjacent to the school premises, the appellant Trust was interested in purchasing the same for the purpose of expansion of the school. Pursuant thereto, the appellant Trust entered into negotiations with the Respondents for purchase of the property, which was orally accepted by the Respondents jointly and severally and the parties agreed that the sale transactions would be completed in the following manner: i) That the defendants will sell the suit property and the plaintiff shall purchase the same on a total consideration price of Rs. 4,15,00,000/- (Rupees Four Crores fifteen Lakhs only). ii) That the defendant No. 1 shall get a sum of Rs. 1,55,00,000/- (Rupees One Crore and fifty five lakhs) only towards the full and final consideration price for sale of his undivided 1/3rd share in the suit property upon execution and registration of the Deed of Conveyance in respect of his undivided share in the suit property. iii) That the defendant Nos. 2 and 3 shall jointly get a sum of Rs. 1,30,00,000/- (Rupees On Crore and Thirty Lakhs) only towards the full and final consideration price for sale of their undivided 1/3rd share in the suit property upon execution and registration of Deed of Conveyance in respect of their undivided share in the suit property. iv) That the defendant Nos. 4, 5 and 6 shall jointly get a sum of Rs. 78,00,000/- (Rupees Seventy eight Lakhs) only towards the full and final consideration price for sale of their undivided 3/15th share in the suit property upon execution and registration of Deed of Conveyance in respect of their undivided share in the suit property. v) That the defendant Nos. 7 and 8 shall jointly get a sum of Rs. 52,00,000/- (Rupees fifty two lakhs) only towards the full and final consideration price for sale of their undivided 2/15th share in the suit property upon execution and registration of Deed of Conveyance in respect of their undivided share in the suit property.;