JUDGMENT

N. J. Jamadar, J. - This appeal is directed against a decree passed by the learned Judge, City Civil Court, Greater Mumbai in S.C. Suit No. 8228 of 1984 whereby and whereunder the suit for specific performance instituted by the appellants came to be dismissed.

2. For the sake of convenience and clarity, the parties are hereinafter referred to in the capacity in which they were arrayed before the trial Court.

3. The background facts leading to this appeal can be stated, in brief, as under:-

(a) The plaintiff Nos.1 to 5 claimed to be the tenants of the premises forming part of the chawls namely Mandodari, Tara, Bangali, Sita, Ahilya and Draupadi and corrugated tin sheds situated at New Badam Wadi, V.P. Road, Mumbai standing on a free hold land admeasuring about 3032 sq. mts. (hereinafter referred to as the 'suit property'), owned by the defendant - the Life Insurance Corporation of India, a Public Sector Corporation established under the provisions of Life Insurance Corporation Act, 1956.

(b) The defendant Corporation had floated tenders for sale of the suit property. The plaintiff Nos.1 to 5 claimed to have formed Girgaum Griha Nirman Mandal, an Association of tenants, and submi