The Supreme Court Wednesday stayed a Bombay High Court order holding that the sale of textile mill lands by the National Textile Corporation was contrary to the apex court order.
A bench comprising Justices S B Sinha and P P Naolekar stayed a portion of the high court order holding that the sale of lands by the NTC was contrary to an apex court order and the Board for Industrial and Financial Reconstruction scheme.
The buyers, however, cannot go ahead with construction on the lands bought by them, the court said.
The court, however, directed municipal authorities to process the forms submitted by the buyers, NTC Counsel B Sunita Rao said.
The buyers can apply and get all clearances, including the environmental clearance, from authorities concerned, the apex court clarified.
The order was passed during the hearing of a special leave petition filed against the high court order.