Authority: Supreme Court of India

Order Date: 12-10-2026

Case Overview

  • Petitioners: M/S JDA Projects & Anr.; Respondent: M/S Jamnadas Morajee Finance Pvt. Ltd.
  • Originated as Miscellaneous Application No.74/2026 in SLP(Crl) No.2018/2024.
  • Earlier order dated 26‑03‑2025 directed petitioner to pay principal Rs10,25,00,000 with simple interest at 11% per annum from 11‑01‑2023, to be recovered from sale proceeds of property in Mysuru, Karnataka.
  • Principal District Judge, Mysuru, was appointed Receiver to oversee sale and disbursal.
  • Allegations of delay and undervaluation of land led to stay of proceedings and a request for further sale of identified parcels.
  • Affidavit dated 09‑10‑2026 from petitioner's Managing Partner stated that as of 30‑09‑2026, Rs7,56,51,518 remained payable after disbursing Rs1,92,70,000 (six parcels) and Rs4,57,86,000 (eleven parcels).
  • Respondent contended that lands were being sold below market value and expressed willingness to purchase at higher price.

Final Outcome

1. Court accepted that total amount due with interest as on date is approximately Rs14,50,00,000.

2. Directed respondent to furnish a Statement of Accounts in affidavit by 30‑11‑2026, detailing payments received, interest accrued, and balance due.

3. Ordered immediate disbursement of Rs4,52,86,000 (Rs4,57,86,000 less Rs5,000 retained for auction expenses) to respondent within two weeks of the order.

4. Permitted petitioner to sell eight identified parcels (Nos. 34, 39, 59, 61, 68, 69, 70, 71) with total sale value Rs3,76,00,000; sale to be completed within three weeks, proceeds to be paid directly to respondent by the Receiver.

5. Directed Receiver to publish auction notice and conduct auction of five remaining parcels (Nos. 48, 51, 52, 27, 28) within three months; market values listed totalling Rs5,52,47,500.

6. Rs5,00,000 to be retained from the remaining amount with the PDJ to cover auction expenses, liability of petitioner.

7. Receiver to file a progress report before the Court on 18‑11‑2026.

Topics: Legal Dispute, Property Sale