JUDGEMENT

I.A.7727/2020 (For Impleadment)

1. Kalyani (India) Private Ltd. has filed an application under Order I Rule 10 Code of Civil Procedure, 1908 (hereinafter referred to as “CPC”) to be impleaded as a party in the present Suit for Specific performance of an Agreement to Sell dated 26.03.2012 between the plaintiff and the defendant.

2. The facts in brief as narrated in the application are that the residential property consisting of Basement, Ground Floor and First Floor built on Plot No.38, Block-B, Masjid Moth, Panchsheel Enclave, Chirag Delhi-110017 measuring 216 Sq. Metres (hereinafter referred to as “suit property”), of which the defendant was the owner, had been mortgaged with Punjab National Bank by the original owners/ allottees. On account of their failure to pay the bank dues, the proceedings were initiated by the Bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as “SARFAESI Act”). Punjab National Bank, Mayur Vihar, Phase-II, Delhi held an auction of suit property under the provisions of the SARFESI Act, 2002 on 31st December, 2018. The applicant was decla