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Setback for Wadias in Malad land tussle

After High Court allowed Gopal Raheja group to develop and sell property, Wadia group said they will approach SC

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The Bombay High Court yesterday, setting aside its previous order, permitted Ferani Hotels Pvt Ltd to continue to develop and sell 460 acres of land in Malad. The court, however, asked the Gopal Raheja group to ensure that 12 per cent of all sales consideration is deposited with a designated bank account, thereby protecting the Wadias’ interest in the property.

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