ORDER :

1. The present appeal from order is filed under Order 43 Rule 1 of the Civil Procedure Code, 1908 at the instance of the appellants (original defendants No.1, 2 and 3) being aggrieved and dissatisfied by the order dated 7.10.2021 passed in Special Civil Suit No.20 of 2021 by the 3rd Additional Senior Civil Judge and ACJM, Ankleshwar, Dist. Bharuch, below Ex.5 application restraining the defendants from alienating the suit property or creating any third party right on the suit property pending hearing and/or final disposal of the Special Civil Suit No.20 of 2021.

2. The respondent No.1 (original plaintiff) filed the Special Civil Suit No.20 of 2021 seeking the following reliefs, which read thus :-

“1) A decree for specific performance of the Agreement for Sale dated 20-08-2012 be passed in favor of the Plaintiff Company and against the Defendant Company thereby directing the Defendants to execute the Conveyance Deed and get the same registered in favour of the Plaintiff Company in respect of the suit property, and also permanently restrain the Defendants from alienating the suit property to any other third party till the suit property is transferred to the Plaintiff Company do all other acts, deeds and things as may be necessary In this regard;

(2) In the alternative; If the Hon'ble court finds that the Plaintiff Company is not entitled to the relief of specific performance of Agreement for Sale dated 20-08-2012 OR if the Honourable Court finds that the Specific performance of the Agreement for Sale is not possible, then the suit be decreed for the alternative relief by way of decree for recovery of Rs. 4,00,00,000/-(Rupees Four Crores only) and damages against the defendants, jointly and severally, with interest @ 18% from the date of the agreement till realization of the decree amount, with future interest @ 18% till realization.

(3) Pass any other and further relief in favor of Plaintiff Company, as may be deemed fit by this Honorable Court under the facts and circumstance of the case.”

2.1 The respondent No.1 (original plaintiff) filed application below Ex.5 below in the Special Civil Suit No.20 of 2021 seeking the following reliefs, which read thus :-

“i) The honorable court may be pleased to restrain Defendants from alienating the suit property or creating any third party rights on the suit property, pending hearing and final disposal of the present suit.

(ii) The honorable court may be graciously pleased to grant the exparte ad-interim injunction in accordance with Order 39 Rule 3, in favor of plaintiff company till determination of present injunction application.

(iii) Pass any other and further relief in favor of Plaintiff Company, as may be deemed fit by this Honorable Court under the facts and circumstance of the case.”

3. The facts giving rise to this appeal from order may be summarized as under :-

3.1 It is the case of the respondent No.1 (original plaintiff) that the plaintiff Company had entered into an agreement to sell with the appellant Company to purchase the suit property through the respondent No.2 (original defendant No.5) the erstwhile director on 20.8.2012. It is further alleged by the plaintiff that earnest money/part-payment of Rs.4 crores through RTGS which was duly credited into the account of the defendant Company and as such awaiting clearance to be obtained by the defendant Company from GIDC for smooth execution of conveyance deed and hence it was mutually agreed between the parties that the remaining amount of sale consideration i.e. Rs.1,04,00,000/- was to be paid at the time of conveyance deed.

3.2 It is further case of the plaintiff that earnest money of Rs.4 crores were credited into the account of the defendant Company and thereafter agreement to sell was executed. However, the defendant Company after obtaining all the clearances from the GIDC in January, 2021 did not execute the conveyanc