AR. JAI KUMAR MEERANI vs PUNJAB NATIONAL BANK

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 20th FEBRUARY, 2025 IN THE MATTER OF: + CS(COMM) 494/2016 AR. JAI KUMAR MEERANI .....Plaintiff Through: Mr. Jai Sahay Endlaw, Mr.Ashutosh Rana, Advocates versus PUNJAB NATIONAL BANK ...Defendant Through: Mr. Rajesh Katyal, Mr. S S Katyal, Advocates CORAM: HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD JUDGMENT 1. The present suit was initially filed by the Plaintiff for recovery of Rs.1,48,64,343/- and for specific performance of agreement of lease deed in respect of property bearing No.16-B/1, Desh Bandhu Gupta Road, Dev Nagar, New Delhi admeasuring 3872 sq. ft (hereinafter referred to as "tenanted premises"). This suit has been filed seeking the following reliefs:- “(i) For Specific Performance of Lease aforesaid by directing and commanding the Defendant to execute and register the lease deed as per Annexure "A" to the Plaint and which has already been engrossed on the Stamp Papers of the appropriate value and to pay the amount of security deposit with interest thereon @24% per annum from August, 2002 till date of payment and to pay future rent to the Plaintiff in terms of the said lease agreement. (ii) For recovery of Rs. 1,48,64,343/- together with Signature Not Verified Digitally Signed By:SHAZAAD ZAKIR CS(COMM) 494/2016 Page 1 of 24 Signing Date:27.02.2025 17:35:38 future interest on the said amount at the rate of 18% per annum, to be compounded quarterly from the date of institution of the suit and till the date of payment. (iii) Costs of the Suit be also awarded to the Plaintiff. AND / OR (iv ) Such other and further order(s) may be passed as may be deemed fit and proper in the facts and circumstances of the case.” 2. Since the period of lease was over, this Court vide Order dated 04.05.2004 appointed a Local C