TaxTMI 
TaxTMI 
TaxTMI 
2017 (7) TMI 1434
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.... "the Bank") was dismissed and the attachment order dated 14.12.2001, relating to flat No. 12, 5th Floor, New Shrinath Kunj, CHS Ltd, Vile Parle (West), Mumbai, 400056 was set aside and a further direction was given to enrol the respondent No.1 as member of the New Shrinath Housing Co-operative Society (hereinafter referred to as "the Society"). 3. The undisputed facts are that the flat in question was owned by Shri Dhillon P. Shah. Mr. Shah and his wife Smt. Shivangi Shah were Directors of a Company known as M/s. Mahaganesh Texpro Private Limited. The Bank granted a cash credit facility of Rs. 2.25 crores to the Company. The Directors including Shri Dillon P. Shah and Smt. Shivangi P. Shah stood guarantee for the repayment of the cash cre....
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.... not traceable. In this letter she made no mention of the attachment of the flat or of the fact that dues were payable to the bank. She sent another similar letter on 28.12.2004. Thereafter, on 28.12.2004, the respondent No.1 for the first time claimed ownership of the suit property and, under some amnesty scheme, paid the stamp duty payable on the agreement to sell the suit property. 7. On 20.01.2005, the respondent No.1 applied to the Society praying that he may be granted membership of the Society. This application was rejected by the Society vide letter dated 28.01.2005. In this letter it was clearly stated that neither late Shri Dhillon P. Shah nor Mrs. Shivangi P. Shah had informed the other members of the Society about the fact that....
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....n 12.11.2006 in the presence of the counsel for the respondent No.1. 11. The forensic expert sent his report dated 21.07.2010 in which he found that the signature on the photocopy did not appear to be of Shri Dhillon P. Shah. On 09.10.2010, the objection petition filed by the respondent No.1 was dismissed and it was held that he had no right title or interest in the suit flat. 12. Thereafter respondent No.1 filed Revision Petition, which was allowed on 28.10.2013. The Bank thereafter filed writ petition No.195 of 2014, which was dismissed giving rise to these appeals. 13. As far as the issue of transfer of the suit flat is concerned, the Bombay High Court has dismissed the petition of the Bank only on the ground that since the attachment....
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.... that a transfer of immovable property by way of sale can only be by a deed of conveyance (sale deed). In the absence of a deed of conveyance (duly stamped and registered as required by law), no right, title or interest in an immovable property can be transferred. 19. Any contract of sale (agreement to sell) which is not a registered deed of conveyance (deed of sale) would fall short of the requirements of Sections 54 and 55 of TP Act and will not confer any title nor transfer any interest in an immovable property (except to the limited right granted under section 53A of TP Act). According to the TP Act, an agreement of sale, whether with possession or without possession, is not a conveyance. Section 54 of the TP Act enacts that sale of ....
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....operty Act, it is well settled that the same can only be used as a defence in proceedings initiated by the transferor or by any person claiming under him. 17. As far as the present case is concerned, the very foundation of the case of the respondent No.1 i.e. agreement to sell is doubtful. The original has not seen the light of day and only photocopy thereof was filed. There are doubts with regard to the signature of Shri Dhillon P. Shah. As pointed out earlier, the Bank attached the property in question in the year 2001. Shri Dhillon P. Shah died in the year 2004 and during these three years though Shri Shah and his wife filed various legal proceedings, they never disclosed that this flat had been sold by them. The respondent No.1, during....