SOUMEN SEN, J.

1. The applicants are the grand children of Late Uday Chand Mahatab, Maharaja of Burdwan.

2. This application has been filed by the said grandchildren for determination of the question as to whether the applicants are representatives of Late Uday Chand Mahatab in respect of Tiretta Bazar Property as well as for determination as to whether the order dated 23rd May, 2003 is executable against the applicants in respect of the Tiretta Bazar Property. In the alternative, the applicants have prayed for a declaration that the order dated 23rd May, 2003, drawn up as a decree and affirmed by the Hon’ble Division Bench by an order dated 14th March, 2014, is void and inexecutable against the said Tiretta Bazar Property.

3. Before entering into the arena of disputes as canvassed by the parties in their pleadings as well as during argument, the relevant undisputed facts are indicated below.

4. On 14th February, 1948 the Maharaja of Burdwan granted a lease in respect of premises no. 12, Lower Chitpur Road, Calcutta, now known as Tiretta Bazar Property, situated at premises no. 22 (also known as 22B) Rabindra Sarani, Kolkata (hereinafter referred to the suit property) in favour of Shri Ganesh Property Private Ltd. for a term of 66 years with an option for renewal for a further period of 33 years. At the material time, shareholdings in Shri Ganesh Properties Private Ltd. were held by three groups of shareholder namely Jajodias, Sarafs and Acharyas. By virtue of an agreement of sale dated 22nd October, 1952 the Maharaja of Burdwan agreed to sell the said property to Murlidhar Saraf, predecessor in interest of the Saraf Group, and Anandilal Poddar. By the said agreement, the Maharaja of Burdwan had also agreed to sell the premises no. 57, Clive Street, Calcutta (the Raja Katra property) to the said parties.

5. On January 13, 1953 Jugal Kishore Jajodia and Mannalal Jajodia on the one hand and Murlidhar Saraf and Anandilal Poddar on the other hand entered into an agreement under which it was agreed that Poddar and Saraf will get a separate deed of conveyance/permanent lease from Majaraja of Burdwan in respect of Tiretta Bazar property directly in the name of Jajodia or nominees on payment of Rs.5.50 lakhs.

6. On 19th August, 1953 Murlidhar Saraf and Anandilal Poddar jointly filed a suit being no. 2972 of 1953 against the Maharaja of Burdwan for specific performance of the said agreement dated 22nd October, 1952.

7. The aforesaid suit was compromised by filing a terms of settlement on the basis of which a consent decree was passed on 5th May, 1959. It was recorded in the consent decree that the suit property should be sold at a consideration of Rs.5.50 lakhs in favour of Murlidhar Saraf or his nominee in respect of the Tiretta Bazar property and the amounts would be paid simultaneously with the execution of the conveyance. The decree also provides for payment of Rs.3000/- to the Maharaja for the seva puja of the deities Sri Sri Ishwar Radha Ballav Jew until a mutual agreement with the Maharaja, his heirs and legal representatives is arrived at for payment of a lump sum by way of capitalization of the annual charge of Rs.8000/-. The decree also provided for completion of transaction by 31st May, 1959 and time was made the essence of the contract. No amount was paid or tendered to Maharaja within 31st May, 1959. On 25th July, 1959, Jajodias group filed a suit being C.S. No. 994 of 1959 against Sarafs, Poddar and Maharaja of Burdwan praying inter alia for specific performance of the agreement dated 13th January, 1953 as mentioned in paragraph 6 of the plaint in favour of the plaintiffs and a decree directing the defendants to execute a conveyance in terms of the conveyance now lying at office of M/s. S.C. Ray Chaudhuri and Company (a copy whereof is filed with the plaint and marked- E) in favour of the plaintiffs and do all acts and things necessary for the said purpose, including registration thereof.

8. On 27th July, 1959 an inter