Pune, 10th August 2023: What appeared to be a promising real estate transaction has evolved into a complex legal battle, pitting A Plus Design Height LLP against Sahara Prime City Limited. The dispute revolves around the acquisition of a sprawling 106-acre land parcel valued at a staggering Rs 425 Crores. This contentious issue has now escalated to the courtroom, with far-reaching implications for both parties involved.
The petitioner, A Plus Design Height LLP, represented by Adv. Aashutosh Srivastava, has taken the matter to the Bombay High Court, seeking the appointment of an arbitrator to address the ongoing disputes. The core grievance of the petitioner is the alleged denial of a No Objection Certificate (NOC) for the pre-mortgaged land by Piramal Capital and Housing Finance Limited. This denial has come after a prolonged wait of more than three years, during which the petitioner had invested substantial resources in what they believed to be a secure property venture.
Adding complexity to the situation, the petitioners claim that Sahara Prime City Limited, along with Khushal City Homes Mau Pvt. Ltd. and Piramal Capital and Housing Finance Limited, engaged in questionable transactions involving the same land in dispute. Shockingly, these transactions were kept hidden from the petitioners, who were left in the dark about these developments. The land was purportedly put up for sale through intermittent public notices, catching the petitioners off guard.
Despite making significant payments for the property, the petitioners were met with not only the absence of the critical NOC but also the daunting possibility of losing their investments altogether. Their attempts to halt these alleged unauthorized actions were met with silence, adding to their frustration and concern.
Standing firm in their resolve, the petitioners presented their case before Justice RI Chagala on August 7, 2023. Responding to the plea, the High Court issued a notice to the respondents, indicating that the legal confrontation has officially begun. As both parties brace for a potentially protracted legal battle, the outcome of this case could have significant implications for property disputes and real estate transactions in the region.
