Granting relief to veteran actor Dilip Kumar, the Bombay High Court dismisses an application seeking injunction against him from dispossessing from his Pali Hill property.
The actor had entered into an agreement in June 2006 with Sharyans Resource Ltd and Gold Beam Pvt Ltd under which he had granted development rights of his Pali Hill property to both the companies.
In October 2010 via execution of deed of assignment between Sharyans, the former assigned their right, title and interest to Prajita Developers Pvt Ltd. Following this Prajita Developers became partners with Dilip Kumar and Gold Beam.
Because of dispute between the parties, Prajita Developers approached for arbitration which didn’t favour it.
The High Court while dealing with the present petition, also refused to restore the terminated partnership of the petitioner. The HC also noted that the petitioners failed to perform their obligations as per the agreement and therefore not entitled for interim protection.
According to the agreement, the development work was to be carried out by the developer at their own costs, and development was supposed to commence within 30 days and should be completed within 12 months.
The plans were approved in 2008. However, till today no construction was done except some piling work.