PUNJAB NATIONAL BANK Vs. HARYANA STATE INDUSTRIAL AND CORPORATION LIMITED
LAWS(P&H)-2014-4-46
HIGH COURT OF PUNJAB AND HARYANA
Decided on April 29,2014

PUNJAB NATIONAL BANK Appellant
VERSUS
Haryana State Industrial And Corporation Limited Respondents

JUDGEMENT

- (1.) Learned counsel for the respondents accepts notice. At the request of learned counsel for the parties, the petition is taken up for hearing.
(2.) Haryana State Industrial and Infrastructure Development Corporation, respondent No.1 (for short 'the Corporation), on an application filed by one Shri Rajnish Behl as Sole Proprietor of M/s Parth Industries, allotted Plot No.460, Phase-III, Udyog Vihar, Gurgaon, to him for setting up of a project of Sheet Metal and Wire Formed Components, on 5.8.1992. In terms of the allotment letter, the project was required to be completed within a period of two years. In terms of this agreement, the allottee was required to complete the erection and installation of machinery within the said period of two years from the date of transfer of the plot, failing which, the Corporation could resume the plot. This agreement to sell, subsequently, gave rise to a transfer deed being executed on 12.1.1993, which was duly registered.
(3.) It may be noted that learned counsel appearing for the respondents has not been able to establish from a perusal of either the agreement or the transfer deed that there was any restriction on sale or transfer of the property in question. Thus, absolute title was conferred on Shri Behl and even the clause qua right of resumption was neither included in this deed of transfer nor was the earlier agreement dated 18.8.1992 (signed by Shri Behl on 9.9.1992) made a part of the transfer deed, specifying that the clauses contained therein would be binding between the parties. We are saying so as something turns on this. The transfer deed was a final registered document, which was a composite document and would, thus, govern the rights and obligations of the parties.;


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