The Delhi High Court has directed the owners of a shopping mall in the city to not sell any of the unsold portions of their commercial complex till January 19 on a plea of one of the investors who had bought space there for over Rs 12 crore but was not given the same.
Justice Manmohan Singh issued the status quo order on the plea of Kashyap Commercial Pvt Ltd that it had paid the mall owners, S S Con-Build Pvt Ltd, Rs 12.14 crore for space in the Gourmet Hub Mall at Paschim Vihar in west Delhi.
Kashyap Commercial has told the court that it has paid the amount as part payment of the total consideration of Rs 15.35 crore for a space measuring 14473 square feet in the mall.
It has contended that S S Con-Build has terminated the agreement between them and has transferred the property in dispute to a third party, Chronicle Clothing Pvt Ltd, which in turn has entered into a lease agreement with Mac Restaurant Pvt Ltd with regard to the same space.
Kashyap has contended that the transfer of the property to Chronicle was without a proper sale deed and hence, was illegal.
S S Con-Build has also moved applications opposing Kashyap’s claims in its suit and has contended that the dispute has to be settled by arbitration as per the agreement between them. This has been opposed by Kashyap.
The court, while directing S S Con-Build to maintain status quo with regard to the unsold portions of the mall, said it will consider all the applications and the main suit on next date of hearing on January 19 next.
( Source – PTI )