| Dear Friends, The brief of the case is as follows: A piece of land in Mumbai is transferred by A to B by way of an Development Agreement to develop the said Property and thereafter with an intention to convey the said developed property to B against the consideration and a part of the developed property for A's personal use. (This is more of an Agreement for Sale in the guise of a Development Agreement) Subsequently, things did not workout as per the agreement and B could neither develop the property in the stipulated period nor give the assured developed property for A' use. In view of the above, A by sending a notice through his lawyers terminated the Development Agreement and B filed a suit against the same. In the meantime both A and B vide various agreement agreed to transfer rights in the said property to various other people and there are multiple suits pending against the said property. My clients intend to buy the said Property from B with full knowledge of the pending suits. Kindly advise on the legalities of the same. Regards, Sachin
|
|
