Bombay high court rules in favour of Nusli Wadia in property dispute with Rahejas

In the dispute between business barons Nusli Wadia and real estate major Rahejas over a prime property, the Bombay high court today upheld Wadia's role as the caretaker of 600 acres in suburban Malad valued at Rs22,000 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 authorised 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 TN 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.