This suit is filed by the plaintiffs to direct the defendants to
execute a deed of sale conveying to the first plaintiff society, the
schedule ‘A’ property by way of absolute sale deed and also to
direct the defendants to execute separate sale deeds in respect
of item Nos.1 to 9 of suit ‘A’ schedule apartments in favour of
plaintiffs No.2 to 10 as per the sale deeds executed in their
favour.
2. The case of the plaintiffs in brief is as hereunder:-
The first defendant Sri D.S.Gowda is the owner of suit ‘A’
schedule property bearing No.132, 6th ‘A’ Cross, 9th Main, RMV
Extension, Sadashiva Nagar, Bangalore-80, which is described
as suit ‘A’ schedule property. He had entered into a Joint
Development Agreement dated 30.04.1981 with one Mr.K.T.
Asher, who was carrying on business under the name and style
M/s Asher and Associates. Under the said joint development
agreement, the first defendant authorised the said Mr.K.T. Asher
to develop the schedule ‘A’ property by constructing residential
apartments there on. As on the date of the joint development
agreement, the suit schedule property was consisted certain
structures and late Sri K.T. Asher was authorised to put up
additional floors on the existing structures by putting up
residential apartments. As per clause (i) of joint development
agreement, the first defendant being the owner of the schedule
property specifically authorised late Mr.K.T. Asher to sell, dispose
of and transfer the flats/apartments that may be constructed on
the property upon such terms and conditions the developer
deems fit by receiving the consideration amount. Though clause
No.11 had imposed a condition that the developer was obliged to
appropriate the sale proceeds firstly for payment of the loan
availed by the defendant No.1 by mortgaging ‘A’ schedule
property and secondly for payment of the balance amount due to
the first defendant and thereafter to share the net profits along
with the first defendant in equal share, it did not place any
restrictions on the power of late Mr.K.T. Asher to sell the flats/
apartments directly by receiving the sale proceeds. The
authorisation given by defendant No.1 included for the sale of
flats/units including car parking space. As per Clause-17, it was
agreed that the prospective buyers of the apartments should form
a co-operative society or any other body or association or Limited
company of the acquirers of the flats/units/car parking space and
the first defendant had agreed to execute the deed of conveyance
or transfer or such other document in favour of developer or the
acquirers including to the society or body or association or limited
company of acquirers. Pursuant to the joint development
agreement, Mr.K.T. Asher commenced the construction work and
had entered into nine separate sale agreements in favour of
plaintiffs No.2 to 10 on 08.05.1982, 11.01.1982, 11.03.1985,
10.10.1981, 11.10.1981, 08.10.1981, 08.06.1983, 29.05.1987
and 22.06.1984, agreeing to sell the flats No.103, 101, 102, 203,
201, 202, 303, 301 and 302 respectively in favour of plaintiffs
No.2 to 10 for the consideration amounts narrated in the plaint.