Pune: A Plus Design Height LLP and Sahara Prime City Limited Embroiled in Land Acquisition Dispute
Pune, 10th August 2023: A seemingly lucrative property deal has taken a distressing turn as A Plus Design Height LLP, the petitioner, and Sahara Prime City Limited find themselves entangled in a legal quagmire. The matter, which revolves around the acquisition of a sprawling 106-acre land parcel for a staggering sum of Rs 425 Crores from Sahara Prime City Limited, has escalated into a courtroom battle with far-reaching implications.
Expressing their grievances, the petitioners, represented by Adv. Aashutosh Srivastava, have approached the Bombay High Court seeking the appointment of an arbitrator to address the mounting disputes. The petitioner, having invested substantial resources in what was believed to be a secure property venture, alleges a shocking denial of the No Objection Certificate (NOC) for the pre-mortgaged land by Piramal Capital and Housing Finance Limited. This alleged denial follows an agonizing wait of over three years.
In an unexpected twist, the petitioners claim that Sahara Prime City Limited, in collusion with Khushal City Homes Mau Pvt. Ltd. and Piramal Capital and Housing Finance Limited, purportedly engaged in illicit transactions involving the very land under contention. To the petitioners’ dismay, they were kept oblivious to these developments, while intermittent public notices advertising the sale of the land surfaced without warning.
Despite making substantial payments towards the property, the petitioners were confronted not only with the absence of the elusive NOC but also the unsettling possibility of losing their investments. Repeated efforts to halt these alleged unauthorized actions met with a resounding silence, leaving the petitioners feeling frustrated and backed into a corner.
Taking a determined stance, the petitioners rallied their resolve and on August 7, 2023, Adv. Srivastava, their legal representative, presented their case in a commercial petition before Justice RI Chagala. Responding to the plea, the High Court issued a notice to the respondents, setting the stage for a legal confrontation.
