Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Transfer of Property Multi-storeyed flats |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Dismissed |
Headnote | Transfer of Property - Multi-storeyed flats - Flatspurchased by members of Cooperative Society orshareholders of Company - Right, title, interest over such flat- Nature of - Held: It is a species of property, whether thatright has been accrued under the provisions of the Articlesof Association of a Company or through the bye-laws of aCooperative Society- It cannot be said that flat owners cannotsell, let, hypothecate or mortgage their flat for availing of loanwithout permission of the builder, Society or the Company -The right of transfer of land is incidental to the right ofownership and such a right can be curtailed or taken away onlyby reason of a Statute - The Articles of Association of aCompany have no force of a Statute and consequently onfacts, right of Respondent No.5 to mortgage could not havebeen restricted by the Articles of Association - Neither theCompanies Act nor any other statute make any provisionprohibiting the transfer of species of interest to third partiesor to avail of loan for the flat owners' benefit - A legal bar onthe saleability or transferability of such a species of interestwill create chaos and confusion - The right or interest tooccupy any such flat is a species of property and hence hasa stamp of transferability and consequently no error with thewarrant of attachment issued by the ORT on the flat in·question. |
Judge | Hon'ble Mr. Justice K.S. Panicker Radhakrishnan |
Neutral Citation | 2013 INSC 607 |
Petitioner | Hill Properties Ltd. |
Respondent | Union Bank Of India And Others |
SCR | [2013] 10 S.C.R. 89 |
Judgement Date | 2013-09-11 |
Case Number | 7939 |
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