1. The above suit is filed by the Plaintiffs inter alia for an order and decree against the Defendants to specifically perform the Memorandum of Understanding (“MoU”) dated 10th March 2008 (Exhibit-H to the Plaint), Development Agreement dated 24th March 2008 (Exhibit-J to the Plaint) and also to execute all necessary documents/writings so as to effectually sell, transfer and convey the right, title and interest of the Defendants property bearing Survey No. 20, Hissa No. 4, corresponding C.T.S. Nos. 112, 112/1 to 112/7 admeasuring 5335.35 sq. meters situate at Village Bandivali, Tal. Andheri, Mumbai Suburban District (“the suit property”) to the name of the Plaintiffs.

2. The Plaintiffs have taken out the above Notice of Motion in the suit seeking interim reliefs i.e. appointment of a Court Receiver in respect of the suit property and an injunction restraining the Defendants from in any manner dealing with, and/or disposing off and/or creating any third party rights in respect of the suit property and from permitting any person other than Plaintiffs from carrying out the work of redevelopment of the suit property.

3. The Defendant No.1 Society is the owner of the suit property which was originally developed by M/s. Jogani Enterprises – builder and developer. There are in all 138 members in the Defendant No.1 Society who have purchased flats and/or shops/offices.

4. According to the Plaintiffs, since the buildings of the Defendant No.1 were in a dilapidated condition, Defendant No.1 society floated a tender, and in pursuance thereof the offer submitted by the Plaintiffs vide their letter dated 8th October 2007 for carrying out the redevelopment of Defendant No.1 Society's property was held to be the most beneficial to Defendant No.1 Society. At that time the suit property was not owned by Defendant No.1 Society, since the said M/s. Jogani Enterprises had not conveyed the suit property in favour of Defendant No.1 Society. At the request of Defendant No.1 Society, the Plaintiffs negotiated with the said Jogani Enterprises who agreed to accept a sum of Rs. 10,00,000/-in full and final settlement of its claim, and for sale, transfer and conveyance of the suit property along with the building standing thereon in favour of the Defendant No.1 Society.

5. The Plaintiffs thereafter vide their letter dated 6th November 2007, gave a detailed offer to the first Defendant Society. The Plaintiffs by their said letter have inter alia set out the exact area that will be provided to the members of the Society after carrying out the redevelopment of the suit property. The Plaintiffs also agreed to provide various other commercial benefits such as payment of advance rent to the members of Defendant No.1 Society for enabling them to make their own transit accommodation arrangements, deposit of Rs. 2.5 crores as and by way of corpus fund with the Defendant No.1 Society and compensation at the rate of Rs. 12,000/-to every shopkeeper to enable them to acquire temporary alternate accommodation during the construction period.

6. In the Annual General Body meeting of the first Defendant Society held on 11th November 2007, attended by 49 out of 138 members, it was decided to get the plan and elevation features from the Plaintiffs and give the work to the Plaintiffs “upon satisfaction of the members of the Society”. A copy of the minutes of the meeting held on 11th November 2007 was forwarded to the Plaintiffs by the first Defendant Society vide its letter dated 26th November 2007. According to the Plaintiffs, a tentative plan along with the elevation drawings of the new building were submitted by the Plaintiff to the Defendant No.1 Society. The said tentative plan and the elevation drawings were considered and accepted by the Managing Committee Members of the first Defendant Society who approved and discussed the said plan by showing the same to the members of Defendant No1. Society.

7. In the Annual General Meeting of the first Defendant Socie