YUSUF KHAN @ DILIP KUMAR THROUGH POWER OF ATTORNEY versus PRAJITA DEVELOPERS PVT. LTD. & ANOTHER

No justification exists for demand of specific performance of the agreement dated 23.6.2006 as performance is over a decade delayed; possession shall be restored to appellant upon deposit of Rs. 20 crores, and any residual claims for damages to be resolved by arbitration.

Parties: Appellant: Yusuf Khan @ Dilip Kumar through Power of Attorney; Respondent No.1: Prajita Developers Pvt. Ltd.; Respondent No.2: Goldbeam Construction Private Limited
Jurisdiction: India
Judgment Date: 30 August 2017
Procedural Posture: Civil Appeal / Final Disposition
Outcome: Appeal and miscellaneous application disposed of.
Legal Topics: Specific Performance, Development Agreement, Termination of Contract, Arbitration Proceedings

Contract Law Arbitration Law Property Law Specific Performance Development Agreement Termination of Contract Arbitration Proceedings

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Full judgment text Legal principles 2 Authorities cited 7 Party arguments 2 Amounts and remedies 2

Parties

Yusuf Khan @ Dilip Kumar through Power of Attorney

Appellant

Prajita Developers Pvt. Ltd.

Respondent No.1

Goldbeam Construction Private Limited

Respondent No.2

Procedural Posture

Civil Appeal / Final Disposition

Legal Issues

1 Whether respondent no.1 is entitled to specific performance of the Development Agreement dated 23.6.2006
2 Whether PRAJITA is entitled to any damages apart from Rs. 20 crores upon termination of the development agreement

Ratio Decidendi

Court Disposition

Appeal and miscellaneous application disposed of.

Orders

Appellant shall deposit Rs. 20 crores with Supreme Court within four weeks.
Respondent no.1 (PRAJITA) to withdraw security and hand over possession of property to appellant within seven days after intimation.