M/S RESIDENTS WELFARE ASSOCIATION,NOIDA vs STATE OF U.P.

The Supreme Court upheld the validity of leasehold rights transferred by cooperative housing societies to members, emphasizing that such transfers, although subject to restrictions by Noida authorities, were legitimate if registered under the UP Stamp Act. The Court clarified that the injunction against Noida authorities from issuing transfer memorandums did not invalidate the agreements made prior to the injunction. The judgment reinforced the principle that registered agreements of transfer, even under restrictive conditions, confer enforceable rights to the assignees.