THE HON'BLE MR JUSTICE GHULAM MOHAMMED and THE HON'BLE MR JUSTICE P. SWAROOP REDDY C.M.A.No. 543 of 2010 Judgment: (Per Ghulam Mohammed, J.) Heard both sides. 2. The contention of the appellant/builder is that he has developed the property consisting of total nine flats; the construction is at advanced stage and the first respondent never approached the Court till the construction reached the advanced stage and now, to extract money only, the first respondent filed the present suit; whereas the learned counsel for the first respondent contends that the suit was filed in the year 2009, construction started in the year 2007 and there was delay in passing the orders as the present appellant went on asking time. 3. All the above allegations and counter allegations are not relevant now for the purpose of disposal of this appeal. In case, the Will on which the third respondent is relying on, is not accepted, the first respondent would be entitled to 1/3rd share, which would be about 1 ½ flat out of 4 ½ flats of the share of the land owner, remaining 4 ½ flats would be the share of the developer (the appellant herein), as reported by both sides. 4. It appears that agreements of sale for most of the flats are entered into with the third parties. In case any restrictions are imposed in alienation of the flats, innocent third parties, who have entered into agreements of sale, would suffer. The first respondent, who approached the court at a belated stage obviously fully knowing all the developments from time to time, being resident of the same place, would have to put up with this situation. 5. Considering all these circumstances, it is directed that the appellant and the third respondent shall give security of Rs.25.00 Lakhs (Rs. Twenty five lakhs only) each i.e., Rs.50.00 Lakhs (Rs. Fifty lakhs only), as we are informed by both sides that value of each flat would be about Rs.25.00 Lakhs, by way of bank guarantee, which shall be kept in force till disposal of the suit and the court below shall dispose of the suit, expeditiously. It shall be the responsibility of the first respondent to see that the bank guarantees are renewed from time to time, as in case of lapse of these things, he would suffer. The first respondent shall be entitled only to appropriate amount equivalent to the value of the flat area, he would be found eligible, fixing the rate of the flat @ R.25.00 Lakhs each, out of the amount of R.50.00 Lakhs (being the bank guarantee) with interest @ 7.5% per annum, on the amount of his share. It is once again made clear that the first respondent shall be entitled only for the amount to the extent of his share in the property, as decided in the suit, (out of the Rs.50.00 Lakhs bank guarantee) and not any portion in the Flats. There shall not be any restriction on the disposal of the property. This order is being passed to protect the interest of innocent third parties also that have entered into agreements for purchase of these flats. 6. Accordingly this civil miscellaneous appeal is disposed of. However, this judgment does not preclude the parties from entering into any other kind of compromise before the court below. No costs. __________________________ GHULAM MOHAMMED, J. Dated: 04-10-2010. *SJ/BVS. _______________________ P. SWAROOP REDDY, J.