Redevelopment – Hurdle of objecting two members – Interim relief to solve stand-off
Development Agreement dated 31.7.2024 of the Petitioner and the Respondent no.1 Society for redevelopment of the property and structures at Khar West, Mumbai.
Out of 20 members of the society, 18 members have agreed to hand over the vacant possession of their premises. Two members of flat Nos.6 and 12 have objected to the redevelopment.
Each member who has executed the tripartite agreement has been paid the first instalment of hardship compensation as per the Development Agreement. Total amount of Rs.37,27,000/- has been paid. Moreover, Rs.5 crores were paid to the earlier Developer.
In view of hurdle of only two members to the redevelopment and stand-off, the High Court granted salutary directions to balance competing interests of the parties, equalities and protection of best interests of all the parties, amongst others, following interim reliefs are granted –
The Petitioner shall be entitled to approach the Learned Court Receiver within a period of one week from the upload of this Order on the website of this Court, to execute the tripartite agreement in respect of Flat No. 6 and Flat No. 12 of Spectrum, by demonstrating to the Learned Court Receiver that the terms of the documentation presented for signing, accord pari passu treatment to the entitlements for these flats and that any variations to the documentation is only in respect of the identification of these flats and the proportionate and commensurate variations linked to the area and related features of these flats in line with the Development Agreement;
(C) Execution of the tripartite agreement by the Learned Court Receiver in respect of each of the aforesaid flats would bind the respective Respondents. The documentation executed by the Learned Court Receiver would bind the members of the Lulla Family and the members of the Haldar Family who respectively claim interests in Flat No. 6 and Flat No. 12;
Judgment dated 16.4.2025 of the High Court of Bombay in Commercial Arbitration Petition No.155 of 2025 (OS) of Elite Housing LLP Vs. The Spectrum CHS Ltd.
