ORDER :

Ashok Kumar Gaur, J.

1. The instant petition has been filed by petitioner-Company with the following prayers:-

"It is, therefore, most respectfully prayed that-

(i) by issuance of a suitable writ, direction or order, Hon'ble Court may kindly be pleased to restrain the Respondent no. 1 to 3 Authorities from taking any action of seizure/attachment of the entire 'Jalsa Mall' situated at F-124A-127, Malviya Nagar, Apex Circle, Jaipur in order to recover the amount as ordered in the Order dated 20.08.2020 passed by Respondent no. 1 against Respondent no. 4 and 5 and also restrain the Respondent no. 1 to 3 Authorities to not give any instruction(s) to the various offices of Sub-Registrar, Jaipur for not registering the Conveyance Deeds/Sale Deeds/Lease Deeds or any other deeds of the share of Petitioner Company in the said mall.

(ii) by issuance of a suitable writ, direction or order, Hon'ble Court may kindly be pleased to direct the Respondent no. 1 to 3 Authorities to seize only those Units/Shops of the 'Jalsa Mall' which is in the share of the Respondent no. 5 and equalling to the value of recovery amount for which, the Petitioner Company is ready to provide details to the Respondent Authorities;

(iii) by issuance of a suitable writ, directing or order, Hon'ble Court may kindly be pleased to direct the Respondent no. 1 to 3 Authorities not to take any coercive action against the Petition Company and its share of area in the Mall on account of default of Respondent no. 4 and 5;

(iv) Any other appropriate order or direction which this Hon'ble Court may consider just and proper in the facts and circumstances of the case may also kindly be passed in favour of the humble petitioner."

2. The facts, in nutshell, as pleaded in the writ petition, are that the respondent No. 4-M/s. Indo Crystal Pvt. Ltd. was allotted a piece of land by RIICO vide lease agreement dated 23.10.2008 covering a total area of 8152.37 Sq. Mtrs. in Malviya Industrial Area, Jaipur. The respondent Nos. 4 & 5-M/s. Divya Aashirwad Properties Pvt. Ltd. entered into a Collaboration Agreement dated 28.12.2006 for developing the mall over the allotted land and further a Supplementary Deed to the said Collaboration Agreement dated 20.06.2007, was also executed. The Collaboration Agreement/Supplementary Deed was registered by the respondent Nos. 4 & 5 in the office of the respondent No. 3-the Sub-Registrar, Jaipur-I and the requisite stamp duty, is alleged to be paid by the respondent Nos. 4 & 5.

3. The petitioner-Company has pleaded that the respondent No. 5 started construction of mall in the year 2007 and due to shortage of funds, the respondent No. 5 had to stop the construction of mall and thereafter, the respondent No. 5 contacted the petitioner-Company for joining hands for developing the mall and initially a Joint Venture Agreement was executed between the petitioner-Company and the respondent No. 5 on 09.12.2011 and on the basis of the initial Joint Venture Agreement, the petitioner-Company invested huge funds with man and machinery and started the construction of mall.

4. The petitioner-Company has further pleaded that a registered Joint Venture Agreement was also executed between the petitioner and the respondent No. 5 on 07.08.2012 and the same was registered with the Sub-Registrar, Jaipur-V and the appropriate stamp duty, as levied by the authority, was paid by the petitioner-Company. The petitioner-Company has pleaded that by virtue of the registered Joint Venture Agreement dated 07.08.2012, the petitioner-Company was given a definite share of area in 'Jalsa Mall' and the area of mall was divided among the petitioner-Company and the respondent Nos. 4 & 5 and the petitioner-Company developed the mall by raising the construction upto the 5th floor.

5. The petitioner-Company has averred that it has sold various units/shops/area in the mall to various third party buyers and also executed the registered conveyance deeds in their favour and is also in the process of ge