PUSHPA SATHYANARAYANA, J - (1.) This writ petition has been filed by the petitioner seeking for a Mandamus to the second respondent to complete the registration formalities in respect of the pending documents 82, 84, 87, 90, 92, 110, 123 and 132 of 2018 on the file of the second respondent and release the registered documents without insisting the Life Certificate of the Principal in the prescribed format.
(2.) The petitioner and the third respondent entered into a Joint Development Agreement dated 19.11.2010 (in short "JDA") for the development of the land belonging to the third respondent in Shanthi Colony, Anna Nagar, Chennai. The petitioner paid Rs.20 Crores towards refundable Security Deposit (SD). As per the JDA, the land owner/third respondent was entitled to 65% of the Gross Margin and the Developer/petitioner was entitled to 35%. The land developer/ petitioner was given a Power of Attorney dated 08.12.2010, which was duly registered as Document No.1353 of 2010 at Sub Registrar Office, Anna Nagar. The said Power of Attorney is an absolute one with full power of alienation and is said to be valid as on date. The project is also registered with the Tamil Nadu Real Estate Regulatory Authority (in short "RERA") and the land owner/third respondent is a co- developer and he has a statutory obligation to register the sale deed and handover the units to the individual customers.
(3.) It appears that there were income tax dues on the part of the land owner/third respondent, being a partner in a firm called RJK Investments to the tune of Rs.5 Crore. The income tax Department had attached 2058 sq. ft. of Undivided Share (UDS) of the land out of the Project land and a writ petition in W.P.No.7456 of 2016 was filed and the attachment order was modified. There is also borrowal by the third respondent from private financiers and he has been facing litigation before various Courts.;