Showing posts with label subsequent sale transaction. Show all posts
Showing posts with label subsequent sale transaction. Show all posts

Monday, 23 May 2016

What will be effect of consent decree on subsequent sale of suit property?

Under the said consent decree, the decree holders had agreed to hand over possession of their plots to the Judgment Debtors. It was agreed that the Judgment Debtors shall provide free of cost on ownership basis an area of 1850 sq.ft. in the proposed building to the decree holders.
Pursuant to the said consent decree, all the pending litigations between the parties including the High Court proceedings were withdrawn as per the terms of the said consent decree.
 In so far as the obstructionists are concerned, they have claimed rights through the Judgment Debtor during the pendency of the execution proceedings filed by the decree holders. It is not in dispute that when the obstructionists claimed their alleged rights from the Judgment Debtor, the Executing Court had already granted injunction against the Judgment Debtor from creating any third party rights. The consent decree was already registered which amounted to public notice.
The obstructionists could not have claimed before the Executing Court that they were bonafide purchasers without notice. The findings by the Executing Court against the obstructionists had attained finality in view of the confirmation thereof by the lower Appellate Court. I have perused the findings rendered by both the Courts below and in my view, there is no perversity in the concurrent findings rendered by both the Courts below and thus cannot be interfered with under section 100 of the Code of Civil Procedure, 1908.
Bombay High Court
Avinash Uttam Kadam vs Smt. Hajira Begum Nisar Ahmad And ... on 9 December, 2015
Bench: R.D. Dhanuka
   SECOND APPEAL (ST.) NO.30922 OF 2015
               Citation;2016(3)ALLMR156
                                  
  
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Tuesday, 18 August 2015

Whether market value of acquired land can be determined on the basis on the basis of subsequent sale transaction?

As rightly argued by learned counsel for the respondent, the fair market value of the acquired land is required to be determined under Section 23 of the Act on the basis of the market rate of the adjacent lands similarly situated to the acquired lands prevailing on the date of acquisition or/and prior to acquisition but not subsequent to the date of acquisition. In appropriate cases, addition of 10% per annum escalation in the prices specified in the sale deeds (if filed and relied on) in relation to adjacent similarly situated lands for fixing the market value of the acquired land may be permitted. Such is, however, not the case in hand. Here is the case where firstly, no sale deeds were filed by the appellants to prove the fair market value of the acquired land and secondly, what they now want this Court to do is to take into consideration the rate of those lands which were acquired ten years after the date of acquisition in question and then reduce the value of such land by 10% every year so as to determine the fair market value of the acquired land in question. In our view, such procedure for determination is not provided in the Act.1
Supreme Court of India
Bhupal Singh & Ors vs State Of Haryana on 1 April, 2015

Bench: Vikramajit Sen, Abhay Manohar Sapre
Citation;(2015)5 SCC801
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