Shri Mukesh Kapil vs Shri Parag P Tripathi & Ors. on 1 September, 2016

2. By and under a perpetual lease executed by the Governor General
Council on April 04, 1939 land ad-measuring 212 sq.yards bearing municipal
No.14, Bazar Lane, Babar Road, New Delhi was demised in perpetuity in the
name of late Darshan Lal Kapil, the predecessor-in-interest of the appellant in
the three appeals. He constructed a building thereon and after a few years
desired redevelopment thereof. On February, 1992 he entered into an
Agreement with Ranjit Towers India Pvt. Ltd., impleaded as respondent No.3
in the three appeals.
3. It is a typical collaboration arrangement. Respondent No.3 undertook
to demolish the existing construction and re-build a building thereon incurring
expenses and additionally pay money to the owner of the land and in lieu
thereof a share in the reconstructed building being its. In the instant case, the
agreement dated February 17, 1992 required a basement, a ground floor, a
first floor and a second floor to be constructed and additionally `15,00,000/-
(Rupees Fifteen Lacs only) to be paid to late Darshan Lal Kapil. As per the
agreement the ground floor was to belong to late Darshan Lal Kapil and the

RFA (OS) No.476/2013 & conn.matters Page 2 of 24
remaining floors were to belong to respondent No.3. The terrace rights were
to vest with late Darshan Lal Kapil.

Source: Indian Kanoon

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