MADHAV PRASAD AGGARWAL vs AXIS BANK LTD

The Supreme Court upheld the High Court's decision to dismiss the suits filed by the appellants against Axis Bank Ltd. under Order 7 Rule 11(d) of the Civil Procedure Code, stating that the appellants lacked a registered agreement for the purchase of flats in the Orbit Heaven project. The Court emphasized that the absence of a formal agreement precludes the appellants from asserting rights against the bank, which had a valid mortgage on the property. The judgment reinforces the necessity of formal documentation in property transactions to establish enforceable rights.