B.R.GAVAI
Susme Builders Private Limited – Appellant
Versus
Om Namo Sujlam Suflam Co-operative Housing Society – Respondent
The plaintiffs have filed the present Suit for declaration that the letter of termination dated 14th July, 2009 issued by the defendant no.1 Society thereby terminating the Development Agreement i.e. agreement dated 27th February, 1986, agreement dated 10th July, 1995, Supplemental Agreement dated 7th January, 1998, Supplemental Developmental Agreement dated 5th September, 2006 and Power of Attorney dated 20th June, 1995 and 18th May, 2008 are illegal and bad in law. A further declaration is sought that the aforesaid agreements and the Power of Attorneys are valid, subsisting and binding on the parties. A decree for specific performance of the aforesaid Developmental Agreements has also been prayed for. The plaintiff has in the alternative prayed for a decree against the defendants for a sum of Rs. 324 Crores along with interest on Rs. 2.83 Crores at the rate of 15% p.a. from the date of the suit till payment/realisation. Along with the suit a notice of motion has been taken out by the plaintiffs praying for an order, restraining the defendants from acting upon the termination of the aforesaid agreements and/or creating any third party rights in respect of the suit proper
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