JUDGMENT

1. On 4th August, 2020, while issuing summons in CS (Comm) (Infra) 1/2020, IA 6433/2020, filed by the plaintiff under Order XXXIX Rules 1 and 2 of the Code of Civil Procedure, 1908 (CPC), was also taken up for preliminary hearing. Ad interim injunction was granted, in favour of the plaintiff, restraining the defendant from transferring, alienating, encumbering or further creating any third party rights in respect of the suit property located at F-6, Kailash Colony, New Delhi, or carrying out any further alteration in the suit property.

2. The defendant filed IA 7643/2020, for vacating the aforesaid ad interim order.

3. Arguments were heard on IA 6433/2020 and IA 7643/2020, which are being disposed of, by this order.

Facts, as per the plaint

4. The dispute relates to a Property Development Agreement ("PDA"), dated 14th January, 2020, executed between the plaintiff and the defendant. The defendant has admitted this document. Clauses 2, 3, 4, 6, 14 and 19 of the PDA read thus:

"2. That the DEVELOPER shall demolish the existing structure on the said plot of land and develop, construct and/or build a building consisting of Basement, Stilt, Ground Floor, First Floor, Second Fl