Axiom
Call Us - 91 33 4020 4020  
Sign In  I  Sitemap   
AxiomEstates - India Real Estate
     India Properties Worldwide
Axiom Banner
 
Bookmark and Share
E-mail Print Tell A Friend


Residential Properties

 
 
Indian Real Estate News : Mumbai
High Court allows Rahejas to submit two documents in Mumbai land case
Source: ET Bureau Sep 27, 2012
The Bombay High Court on Thursday rejected 12 out of 15 additional documents and evidences submitted by developer Ferani Hotels to support its claim that Nusli Nevil Wadia is not a fit administrator for the 460-acre land parcel in Malad, a Mumbai suburb.
On Thursday, a division bench of the Bombay High Court led by Justice DY Chadrachud allowed induction of two evidences which documents were forming part of probate petition of Bachoobai Dashkow, who had appointed Nusli Wadia as caretaker of the land parcel through her will.
Ferani had filed an application for including these 15 documents that could not be brought in during the single bench hearings. One out the 15 evidences was already part of court records. The court has also allowed Ferani to file fresh application for induction of one more document, which is a copy of a certain US court proceedings. The court has rejected this document for now, as it was not a certified copy.
That court has kept open the issue of production of documents if Ferani is able to prove that the same are required for ""substantial cause"" at the time of final hearing.
Earlier in July, the court had ruled in favor of Gopal Raheja, allowing his company Ferani Hotels to continue developing and selling properties on over 460-acre land in Malad. The court had also asked Ferani Hotels to continue depositing 12% revenue share arising out of such development in a separate bank account. It has asked Rahejas to maintain accounts of all sale transactions.
In this much-talked about legal battle, industrialist Nusli Wadia and Raheja had locked horns over development rights of the land parcel. Wadia was earlier appointed as caretaker of this land parcel by the owner Ms Bachoobai Dashkow, who passed away in 2003.Wadia was seeking to terminate the development agreement entered into with Raheja in 1995. With this order, Wadia's efforts to stop construction and sale by Raheja on the Malad land parcel have not been entertained by the court. The dispute originates from certain developments in 1970, when the land owner Eduljee Framroze Dinshaw, who had willed his property to his sister Bachoobai Dashkow, died in the US. According to the will, following Bachoobai's death, ownership of the brother's corpus had to be distributed to two US-based trusts, Salvation Army, New York, and the American Society for Prevention of Cruelty to Animals.
Rahejas have already developed two malls, Inorbit and Hypercity, and Mindspace, a commercial complex, on the plot.
The matter took a new turn in 2000 when Wadia moved the court citing certain provisions of the Indian Succession Act to establish that the bequest to the US charities, as provisioned in Dinshaw's will, was invalid. The court ruled in 2001 that the bequest was invalid due to non-compliance of certain provisions (Section 118) of the Indian Succession Act. Senior Counsel Abhishek Manu Singhvi along with Vivek Vashi of Bharucha & Partners represented the Rahejas, while the Wadias were represented by Senior Counsel Navroz Seervai along with Doijode Associates.

Tag: Indian real estate, property in india, Real estate in mumbai, property in mumbai, Raheja
 Leave your comments
  
Comments

Citywise News
    All India
    Kolkata
    Mumbai
    Delhi NCR
    Bangalore
    Goa
    Pune
    Chennai
    Other Cities
News Category
    Home Loans
    Announcements
    Tax and Legal
    Policy
    Commercial
    Infrastructure
    FDI
    Developer
    Others
Axiom