- (1.) Uniworth Apparel Limited was a company registered in Maharashtra under the Companies Act, 1956. It had an industrial unit at Thane (Navi Mumbai) in the District of Maharashtra. The Uniworth availed credit facilities from ICICI Bank. They could not clear the Bank's dues, as a result Bank assigned their claim in favour of Asset Reconstruction Company (India) Ltd. (hereinafter referred to as 'ARCIL'), a company incorporated under the provisions of the Companies Act, 1956 and registered with the Reserve Bank of India as a company under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'SARFAESI Act', 2002).
(2.) ICICI Bank assigned their interest in the assets of Uniworth to the ARCIL. ARCIL took steps under Section 13 of the SARFAESI Act and took possession of the assets. Ultimately, ARCIL sold the assets to M/s. Webtech Industries Pvt. Ltd. and handed over possession to them. The sale was concluded. Long after sale had been concluded a company by the name of Excel Dealcomm Pvt. Ltd. (hereinafter referred to as 'EXCEL') filed a suit in this Court being C.S. No. 299 of 2007 inter alia praying for a decree for specific performance of the agreement for sale allegedly recorded in a document dated February 13, 2007 by one Mr. Sanjoy Gupta, the then Vice President of ARCIL on the one hand and EXCEL on the other hand. EXCEL also claimed, they paid the purchase price to the extent of Rs.9.5 crores vide cheque dated March 1, 2007 in the name of ARCIL. ARCIL however did not encash the cheque. Vide letter dated March 20, 2007 the said Mr. Sanjoy Gupta asked EXCEL to collect the cheque from the Office of ARCIL, as the deal did not materialize, as the management of ARCIL did not approve such 'proposal'. The plaint filed by EXCEL did have the following prayers: "a) A decree for specific performance of the Agreement for sale recorded in the document dated February 13, 2007 being Annexure-"A" hereto by directing the defendants. 1 and 2 to issue in favour of the plaintiff Sale Certificate in respect of assets mentioned in schedule 1 to Annexure "A" hereto and on as is where is basis in terms of the said agreement. b) Injunction. c) Receiver d) Costs e) Further and other reliefs."
(3.) The immovable property for which the specific performance was asked for, was admittedly situated at Maharashtra outside the jurisdiction of this Court.;