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7. To avoid confusion, the plaintiffs are described herein as applicants and the applicants in Application Nos.5384, 5385 and 5434 of 2003 and Application No.303 of 2004 are described herein as respondents.

8. The brief case of the applicants:- The first applicant is the General Secretary of Young Men Christian Association (YMCA), a Trust registered under the Societies Registration Act, 1860. The second applicant is the Trustee of the YMCA. They are the persons who are having an interest in the Trust property. The YMCA has been rendering yeomen services to the community in and around Chennai primarily focussing on youth and their development irrespective of caste, colour or creed. The YMCA is managed by a Board of Directors. The properties belonging to YMCA is managed by the Board of Trustees. The YMCA owns a property situated at No.4/341, Old Mahabalipuram Road, Kottivakkam Chennai 600 041 which is described as suit property. The entire extent of the suit property is approximately 19 acres. The YMCA proposed to develop an extent of 10 acres out of 19 acres of land. The YMCA does not have the reserves nor the required liquidity to develop the said property. Therefore, it is proposed to enter into a joint development agreement with M/s.Crystal Creations India Private Limited which has consented to invest its own fund for developing the property. Only after perusing the offers from five Companies for the development of the suit schedule property, M/s.Crystal Creations Private Limited, who has been impleaded as defendant in the suit has been selected for the purpose. The YMCA's Board of Directors and Board of Trustees decided to accept the said offer on 3.9.2003 and 15.9.2003 respectively. The said 10 acres are agreed to be developed in the ratio of 47:53. The YMCA having retained 47% would lease out 53% of the property to the developer. The YMCA would execute a lease deed for 5.24 acres out of the total extent of 10 acres of the suit property for a period of 99 years in favour of the developer. The developer also would pay to the YMCA a sum of Rs.2,00,000/= per annum as lease rentals for a period of 33 years and thereafter, with increased rent of 10% over and above the last annual lease rent paid. On the expiry of 99 years lease period, the ownership of the building would revert to YMCA. Therefore, the applicants have sought for permission as stated supra invoking the provisions under section 92(1)(f) of the Code of Civil Procedure.

11. The following points arise for determination:-

i) Whether the proposed third plaintiff YMCA Madras Trust shall be impleaded as necessary party to the suit.
ii) Whether the leave granted to the applicants under section 92 of the Code of Civil Procedure is liable to be revoked.
iii) Whether the respondents are proper and necessary parties to the suit.
iv) Whether the proposed development agreement is prudent and beneficial to the YMCA Trust.

12. Point No.1:- The extract of the Minutes of the Meeting of the Board of Directors and Board of Trustees held on 3.9.2003 and 15.9.2003 would go to establish that the applicants herein have been authorised to complete the formalities in the matter of developing the suit property. The suit has been filed with the full authorisation of the Board of Trustees of the YMCA, Madras, but, by abundant caution, the applicants have sought to implead the Trust as a party as the entire issue revolves around the property owned by the Trust. This court, in its order passed in C.S.No.624 of 1999 dated 21.11.2000, has held that the properties of the Trust shall be vested in the Board of Trustees.

17. Therefore, YMCA Madras Trust is impleaded as third plaintiff. The plaintiffs shall carry out the amendment forthwith.

18. Point No.2:- Leave was granted by this court. Of course, the court ordered publication of notice inviting objections. It appears that the same was published a day earlier to the date of hearing of the suit.

19. It is vehemently submitted by the learned counsel appearing for the respondents that the applicants have attempted to take an order from this court ex parte without any objections from any quarters by not giving any opportunity to the members of the YMCA. That was a reason why the publication ordered by the court was effected just a day before the day of hearing, it was further submitted.

28. There are 19 acres at No.4/31 Old Mahabalipuram Road, Kottivakkam, Chennai owned by YMCA. Out of which, only 10 acres are proposed to be developed by YMCA by entering into a joint venture development agreement with the defendant. It is contended that YMCA does not possess that much of resources and liquidity for developing the property. It is found on record that YMCA invited proposals from as many as five Companies. The offer of the defendant Company was unanimously accepted by the Board of Directors and Board of Trustees of YMCA in their respective resolutions.