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Indian Real Estate News : Mumbai
Bombay High Court to pronounce judgment on Wadia-Rajeha land dispute on Thursday
Source: ET Bureau Jul 18, 2012
The Bombay High Court will pronounce its judgment in the keenly case between industrialist Nusli Wadia and real-estate developer Gopal Raheja over 460-acre land in Malad, a northern suburb of Mumbai on Thursday, July 19.
Earlier in the day, senior counsel, Abhishek Manu Singhvi representing Rahejas offered a formula where the real-estate company agreed to give 12% constructed area of future development. However, the offer was rejected by senior counsel, Fali Nariman who was arguing for Wadias in the matter. The Rahejas had claimed that Wadia's role as the estate agent had come to an end with the death of Bachoobai. But the court rejected this on December 2010.
Ferani Hotels, own by Rahejas' plea had challenged earlier court order authorized Nusli Wadia to continue in his appointment as caretaker of a 600 acre Malad property. The plea of Ferani Hotels to be expedited, however, the court rejected Raheja's appeal for ad-interim relief in the matter.
Senior Counsel Abhishek Manu Singhvi along with Vivek Vashi of Bharucha & Partners is representing the Rahejas. While, Wadias are being represented by Senior Counsel Fali Nariman and Navroz Seervai along with the Shreekant Doijode, of Doijode Associates.

Tag: Indian real estate, property in india, Real estate in mumbai, property in mumbai
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