Mumbai Police handed over keys of disputed Pali Hill property, which was under the possession of real estate firm Prajita Developers Pvt Ltd to actress Saira Banu
On August 31, the Supreme Court asked thespian superstar Dilip Kumar to deposit Rs 20 crore with its registry as part payment to a Mumbai-based real estate firm with whom the agreement to develop his prime Pali Hill property ran into rough weather a decade ago.
Dilip Kumar had entered into the agreement with Prajita Developers Pvt Ltd for developing his property, measuring 2412 square yards
The dispute arose later as no construction was raised and the veteran actor wanted back the plot whose possession was with the firm
In March 2016, the apex court had granted relief to Dilip Kumar by rejecting a plea to restrain him from creating third party rights over the Pali hill property till the arbitration of the dispute with a private developer
The apex court had, however, said that there was an impending arbitration and the arbitrators will proceed to decide the dispute as and when the arbitration proceedings take place, uninfluenced by any observation
According to the original agreement, the owner, as well as the developers, had to share 50 per cent each of the residential flats to be built on the land
The Prajita developers had thus obtained the leasehold rights in the property together with the bungalow standing thereon by virtue of lease of September 25, 1953
But the developers had failed to raise any construction. The Bombay High Court had last year rejected the plea of the realty firm
The dispute was taken to the court almost a decade ago after Prajita Developers Pvt Ltd did not proceed with the agreed plan and left the plot empty, without any construction
But now Saira Banu and Dilip Kumar have got the keys
Dilip Kumar's property in Bandra's Pali Hills is sprawled across 2412 square yards
In August, a bench headed by Justice J Chelameswar asked the Bollywood actor to deposit the amount in the form of demand draft within four weeks and inform the firm.
"Upon the receipt of such intimation, Prajita shall withdraw all the security personnel deployed by it and hand over possession of the property in question within a period of seven days from the date of the receipt of the above-mentioned intimation to the appellant in the presence of Commissioner of Police, Mumbai or any other senior police officer subordinate to the Commissioner of Police, Mumbai to be nominated by the Commissioner of Police"
The Mumbai Police, finally gave back keys of the disputed Pali Hill property to actress Saira Banu in Mumbai. Here are the details of the posh property case