HC rules in favour of Nusli Wadia in prop dispute with Rahejas

Last Updated: Wednesday, December 15, 2010 - 21:26

Mumbai: In the dispute between business
barons Nusli Wadia and real estate major Rahejas over a prime
property, the Bombay High Court on Wednesday upheld Wadia`s role as
the caretaker of 600 acres in suburban Malad valued at Rs
22,000 crore.

The prime property includes the mega retail chain stores
- Hypercity and Inorbit.

Dismissing a petition filed by Ferani Hotels Pvt Ltd, a
company controlled by the Gopal Raheja group, Justice Roshan
Dalvi said "application of the petitioner (Ferani Hotels) is
seen to be accentuated by malafides and as a counterblast to
the suit of the respondent (Nusli Wadia)".

Earlier, in February, Wadia had filed a suit against
Rahejas alleging fraud, on the basis of which the Economic
Offences Wing (EOW) of Maharashtra Police had launched
investigations.

Ferani Hotels had filed a petition early this year
seeking revocation and annulment of the order dated November
20, 2003, which authorized Wadia to continue to act as
administrator of the estate of one Eduljee Framroze Dinshaw.

The petition had claimed that Wadia`s role as
administrator ended with the death of Bachoobai Woronzow
Dashkow, the sole survivor and sister Dinshaw.

Abhishek Manu Singhvi and T N Subramaniam, lawyers of
Ferani Hotels, argued Wadia should be removed from his role as
an administrator and sought appointment of a fit and proper
person for disclosure of the estate and accounts of Dinshaw.

Observing that Ferani Hotels had failed to show any
misconduct in administration on the part of Wadia, Justice
Dalvi dismissed the petition with costs.

PTI



First Published: Wednesday, December 15, 2010 - 21:26

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