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Judgment
Honourable Mr. Justice Rajesh H. Shukla
Rule. Learned advocate Ms. Sejal Mandavia waives service of rule for the respondent. Heard learned advocate Shri Shital Patel for the applicant and learned advocate Ms. Sejal Mandavia for the respondent.
The order passed by the trial court is stayed till the final hearing of First Appeal No. 474 of 2012.
In view of the contentions raised referring to the impugned order and also considering the fact that the amount of Rs. 7 lakhs as directed by the trial court has also been deposited before the Registry of this court, the issue which is required to be considered is how to balance the rival claims.
In view of the contentions raised where learned advocate Shri Patel has stated that pursuant to the transaction as discussed in detail in the impugned order, the full amount has been paid though he has not got the title. Learned advocate Ms. Mandavia has stated that the dispute between the society and the government is going on as a result of which title could not be conveyed by executing a sale deed though her client is ready to file an undertaking that as and when it is cleared he will execute the sale deed in favour of the applicant and shall not enter into any transaction with anybody. However, she has stated that the rest of the consideration may also be released.
Therefore, the interest of justice would be served if, out of the amount which has been deposited with the Registry of this Court of Rs. 7 lakhs, Rs. 3 lakhs is ordered to be released subject to a further rider in the undertaking to be filed by the respondent that this is without prejudice and he will not claim any equity. The remaining amount of Rs. 4 lakhs or any other amount, including the interest, is ordered to be invested in fixed deposit with any nationalised bank in the name of the Registrar, High Court of Gujarat, for a period of 5 years and the original fixed deposit receipt shall remain with the Registry. The fixed deposit may be invested in such a manner that the interest is accumulated.
Learned advocate Ms. Mandavia shall place on record an affidavit of her client stating specifically that as and when the dispute between the society and the government is resolved, he will execute the sale deed and in the meanwhile, he will not enter into any transaction or claim any right qua the property. The application is accordingly disposed of. Rule is made absolute to the aforesaid extent.