1. The present matters relate to the Delhi Co-operative Group
Housing Society Ltd. (hereinafter referred to as ‘the society’). The
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private parties are admittedly members and flat owners in the said
2. Before dealing with the rival contentions, we propose to note
some salient facts about the Society. The Society was registered
under the provisions of the Delhi Co-operative Societies Act, 1972
(hereinafter referred to as ‘DCS Act’) on the 17th of January 1980
with the sanctioned strength of 212 members.
3. It is also an admitted position that on 8th of April 1984, the
society applied to the Delhi Co-operative Housing Finance
Corporation (hereinafter referred to as ‘DCHFC’) for grant of loan
of `1.5 crores for construction of flats. A loan of `1.26 crores was
sanctioned on 17th November, 1985 pursuant to a loan agreement.
The society also executed a mortgage deed whereby the land
allotted to the society was mortgaged with the DCHFC.
Source: Indian Kanoon