- (1.) THE petitioner has prayed for a direction on the respondents to execute and register the sale deed in its favour and to deliver possession of the entire land in terms of the settlement, on payment of balance loan amount as per the sale order dated 27.6.1995 between the petitioner and the respondent -Bihar State Financial Corporation (Corporation for short).
(2.) AS per the Sale Order dated 21.12.1993 issued by the respondent -Corporation, the petitioner made initial cash down payment equivalent to 25% of the total outstanding of the Corporation against the erstwhile promoter. Subsequently, an agreement for 'sale -cum -payment of balance loan amount' was executed between the purchaser and the respondent -Corporation dated 27.6.1995, which was duly registered on 7.8.1995. As per the terms of the agreement, the respondent -Corporation was required to handover the possession of the entire land, as described in Schedule 'A' to the agreement, which is freehold land measuring 80 decimals at Hazaribagh, P.S. -Hazaribagh, District - Hazaribagh alongwith the building, but possession of only 29.6 decimals of iand with boundary wall was given to it. Subsequently, the petitioner deposited the entire amount payable as per the 'Bihar State Financial Corporation OTS 2006 Scheme', which was duly received by the Corporation on 13.6.2007. Receipt acknowledging the entire amount has been given to the petitioner. Since the entire dues against the petitioner stand liquidated, it requested for execution and registration of sale deed and delivery of possession of the entire land in terms of the agreement for sale on payment of balance loan amount. The respondent -Corporation has also issued 'No Dues Certificate' specifically mentioning that the State Of Jharkhand Through Director General Of Police Versus Thakur Ajit Kumar petitioner has paid the total settlement amount. It has been submitted by the petitioner that it had taken loan from Central Bank of India on interest to clear off the dues of the respondent -Corporation in the hope of getting delivery of possession of the remaining land for further use and purpose, but till date, neither the sale deed has been registered nor the rest of the area of the property, in question, has been delivered to it. The petitioner is entitled to get interest on its deposit for the period the sale deed is not executed and the property is not delivered to it after receiving the entire dues and the amount of consideration.
(3.) LEARNED counsel, appearing on behalf of Bihar State Financial Corporation, submitted that he does not deny the agreement and payment of the entire dues and the consideration amount by the petitioner. He submitted that 'No Dues Certificate' (Annexure -18) has been granted by the Corporation. Learned counsel fairly conceded that the entire dues and the consideration amount have been paid. He assured that the sale deed shall be executed and registered in favour of the petitioner within a period of one month from today.;