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YASHWANT VARMA
Vistra Itcl (india) Limited – Appellant
Versus
Lalit Kumar Jain – Respondent
ORDER
I.A. 8205/2023
The present application has been preferred by defendant no. 3 seeking to place on the record additional fact(s) and document(s).
Bearing in mind the disclosures made, the present application is allowed and the said document(s) is taken on record.
The application shall stand disposed of.
I.A. 5728/2023
1. The defendants have moved the instant application seeking permission to sell one of the properties standing in the name of defendant no. 3 for a net consideration of approximately Rs. 74 crores, subject to terms that may be imposed by the Court. The property is stated to be situate at Shanti Niketan Phase III, Survey No. 138, Hissa No. 5 admeasuring 13376.55 square meters located in Village Pashan, Taluka Mulshi, District Pune. For the purposes of evaluating the prayer that is made, the following essential facts may be noticed in brief.
2. The suit itself is for recovery of monies asserted to be due and payable by the defendants to the plaintiff. It came to be registered on 28 May 2019. While issuing summons on the suit, the Court in its order of 28 May 2019 noticed the essential facts as follows. The plaintiff no. 2 is stated to have entered into a Debentures Sub
Injunctions require proof of a prima facie case, balance of convenience, and risk of irreparable harm; previous rejections do not preclude new applications with distinct claims.
Multiplicity of proceedings is also one of the weighty considerations and becomes part of facet of balance of convenience, for, if the disputed property is allowed to be transferred from one hand to ....
The main legal point established in the judgment is the requirement for a prima facie case, balance of convenience, and irreparable injury for granting injunction and attachment of property under Ord....
The court emphasized the need for a prima facie case of fraud to grant temporary injunctions, prioritizing prevention of irreparable harm over immediate transaction validity.
Registered sale deed presumes valid title and full payment; RP must verify claims precisely and handover possession of third-party assets post-CIRP initiation, subject to prior mortgage priority.
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