JUDGMENT

Indu Malhotra, J.

The present Civil Appeal has been filed assailing the Judgment and Order dated 22.07.2014 passed by the Bombay High Court in Appeal No. 558 / 2007 dismissed the appeal filed by the appellants against the Consent Order dated 16.02.2005 in Suit No. 1335 /1988 to which the appellants are not the signatory to the proceedings.

2. The Us pertains to land admeasuring 5082 square yards bearing Survey No. 218, CTS No. 727 situated in Village Mulund, Greater Bombay. The background facts of this litigation are briefly stated as follows :

(i) An Agreement to Sell dated 28.04.1980 was executed between Defendant Nos. 1 to 52-Vaity family and the Plaintiff-M/s. Chitralekha Builders (then comprising of one Kusum Gorule and Tukaram Baliram Nalwade), whereby the Vaity family undertook to execute a Deed of Conveyance in favour of Chitralekha Builders, or its nominees, on receipt of Rs.35,00,000 towards the balance consideration.

(ii) On 09.05.1980, M/s. Chitralekha Builders entered into an Agreement with a Society viz. G.I.C. Sonal Vihar Co-operative Housing Society Ltd.-Respondent No.1 herein, whereby it was agreed that Chitralekha Builders would develop the suit property, an