Mr.Anil D Wadhwa v. No Respondent
hIN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 26-06-2025
CORAM
THE HONOURABLE MR.JUSTICE K.KUMARESH BABU AND OP NO. 640 OF 2023,A NO. 2380 OF 2025,A NO. 2379 OF 2025 Mr.Anil D Wadhwa S/o.Late Mr.Doulatram T.Wadhwa, Flat No.8, 3rd Floor Plot No.170, New No.17, Old Door No.80, 2nd Street, F Block, Anna Nagar East, Chennai - 102.
......Applicant in all applications Vs No Respondent nil .........Respondent(s) For Applicant in all applications:
Mr.N.NAGU SAH COMMON ORDER A.No.2379 of 2025 has been filed to permit the applicant to cancel the sale agreement dated 23.01.2024 registered as Doc.No.770 of 2024 at S.R.O.Selaiyur, in respect of the schedule property entered between the petitioner on behalf of the minor Chetan and the Purchaser Dinesh in respect of the minor property. 1/1
2. A.No.2380 of 2025 has been filed to permit the applicant to sell the minors property more particularly described in the schedule to the Judges Summons to the purchaser Mr.R.Satish, (PAN-AASPS3293D and Aadhaar No.9492 2128 0900) son of Mr.K.Ranganathan, aged about 51 years, residing at Plot No.81, 6th Street, Manicka Vasagar Street, Venus Nagar, Kolathur, Chennai 600 099 for the total sale consideration amount of Rs.90,00,000/- and to execute and register the sale deed in favour of the purchaser on behalf of the minor.
3. A.No.2381 of 2025 has been filed to permit the applicant to invest the sale proceeds of Rs.90,00,000/- in Reserve Bank of India Savings Bond Scheme for a period of 7 years, in the name of the minor and permit the petitioner to receive and utilize the periodical interest accrued from Reserve bank of India Savings Bond Scheme for the education and maintenance of the minor Chetan.
4. Learned counsel for the applicant would submit that this Court vide order dated 19.03.2024 in O.P.No.640 of 2023, had permitted the petitioner to sell the property
on behalf of the minor, on condition that the petitioner shall deposit the sale proceeds of Rs.65,00,000/- (Rupees sixty five lakhs only) in an interest bearing fixed deposit, in any of the nationalized bank till the minor attains majority.
5. He would further submit that pursuant to the order of this Court, the sale which was to take place with the then buyer did not fructify and he also given a letter dated 10.12.2024, allowing the petitioner to sell the property in favour of any other third party. Upon such letter, the petitioner had also found a new purchaser who had agreed to purchase the property at a higher value of Rs.90,00,000/- (Rupees ninety lakhs only) for the benefit of the minor. Hence, the applicant may be permitted to cancel the sale agreement that he entered into, with the earlier purchaser and to enter upon a new sale agreement with the new purchaser and also to deposit a sum of Rs.90,00,000/- (Rupees ninety lakhs only) and invest the same in the name of the minor, in an interest bearing account in Reserve Bank of India Savings Bond Scheme for a period of 7 years, after which period, the minor would 3/3
attain majority.
6. Heard the learned counsel for the applicant.
7. By order dated 19.03.2024 in O.P.No.640 of 2023, this Court had permitted the petitioner to sell the property belonging to the minor and to invest the said amount in an interest bearing account for the benefit of the minor.
8. Presently, the applications have taken out due to the failure of the then purchaser who had agreed to buy the property. The letter dated 10.12.2024 given by the said buyer have also been placed on record. The applicant also identified the new buyer and interest of the new buyer vide letter dated 06.01.2025 had also been placed on record. In view of the same, the applications are ordered as prayed for.
9. The conditions imposed by this Court in the order dated 19.03.2024 in O.P.No.640 of 2023, shall also be complied with by the applicant. 26-06-2025 msv
K.KUMARESH BABU,J.
msv 5/5
AND OP NO. 640 OF 2023, A NO. 2380 OF 2025,A NO. 2379 OF 2025 26-06-2025