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29. Lis pendens, on the other hand, is a common law principle, albeit based on equity considerations, usually dealing with the issue of transfer of the real property. Section 52 of the Transfer of Property Act has given it statutory recognition. The doctrine, in fact, is the epitome of the maxim "ut lite pendente nihil innovetur" (during a  litigation nothing new should be introduced).

30. Going by the above lexical delineations, pendency of any lis or proceeding does not prevent the march of further and subsequent events, unless there is a judicial intervention in the nature of interim interdiction. Even otherwise, every step being taken by either of the parties lis pendence is not void. At best, any resultant position would only be subservient to the outcome of the lis. If the doctrine of lis pendens could be applied to incorporeal issues, it is aimed at preventing the march of subsequent events or developments turning out to the prejudice of either of the parties to the lis. The rights of the parties are to be adjudicated upon as they existed on the date of the commencement of the lis.

35. All that this Court intends to observe is that in the light of the steps taken by the 3rd respondent, Exhibit P9 has lost its existence and stood merged with the order passed in appeal. As such, the only order that remains to be operative and required to be challenged is the order in appeal passed by the Managing Committee. Having said that, I am constrained to observe that in the light of the subsequent developments, W.P. (C) No.18843/2009 filed by the 3rd respondent has rendered itself infructuous. Thus, in the light  of the further steps taken by the 3rd respondent pending the writ petition, even the issue of either sub judice or lis pendence has lost its significance.