Dattatraya Baburao Walawalkar Vs. Siddhivinayak Cons. P. Ltd.
Civil Law - Trust Property
Bombay Public Trust Act, 1950 - Development Control Regulations for Greater Mumbai, 1991, Regulation 33(7) - Trust Property - Sale of - Grant of sanction by Charity Commissioner - Challenge as to - Sanction set aside by learned Single Judge of High Court and directed that notice regarding sale advertised in Newspapers and the same upheld by Division Bench of High Court -As per direction of High Court , Apex Court directed the advertisement to be issued with some modification - Out of nine offers only two remained in the field - Initial offer itself held to be a fair offer in the facts and circumstances and that offer made by successful bidder before the Court raised from Rs.8 crores to 8.25crores by him, all other conditions mentioned in paragraph 9 of the report of the Trustees remaining the same -It would be for the benefit of the Trust if the said offer is accepted by the Trustees- Appeals allowed in the aforesaid terms- Order of the Division Bench of the High Court liable to be set aside.
Topic(s)-Trust Property - Sale Cleared