Dear Sana waheed,
I have gone through the answers given by learned brethren of our noble profession.
Fraud, consequences are not our concern and other persons cannot decide except you, since you have got every minute details, as a counsel for the party.
You have sought a clear cut answer on certain facts.
Regarding to lis-pendens transfer; there is no necessity to reproduce section 52 of the Transfer of Property Act.
It seems that the issue is involved under Muslim personal Law under the " SHUFA".
In our country Muslim Personal Laws are accepted, hence "SHUFA" is a permissible ground to attack a transfer, if the plaintiff proves his right.
The donee does not get any additional right other than rights of the donor.
Also I answer in another way that no person even the Court also cannot transfer rights in property which are not available for the transferor (donor).
At last I request you, to look into the Ruling of the Supreme Court; wherein the Apex Court negated the right of pre-emption on the ground of vicinage ( shafi-i-jar and shafi-i-sharik).
1998(8) SCC 83=AIR1999 SC 2043.
After declaration of Law on this aspect also other sorts of pre-emption still prevail, under Muslim personal Law.