The Supreme Court will decide on October 21 a petition by a Sahara group company challenging the Bombay high court's order that stalled its plans to build 200 bungalows and a golf course on a 600 acre land in Mumbai's outskirts.
A bench headed by Justice Arijit Pasayat, while fixing the date for final disposal on October 21, extended the undertaking given by developer B Jeejeebhoy Vakharia and Associates asking it not to create any third party rights till then.
Earlier, the court had sought reply from the builder and others.
The real estate company of the Sahara Group -- Sahara India Commercial Corporation -- has challenged the high court's division bench interim order that vacated the single judge order that restrained Jeejeebhoy from creating third party rights while dealing with the land worth more than Rs 50,000 crore (Rs 500 billion)
Sahara claims to have spent around Rs 36.5 crore (Rs 365 million), including Rs 11 crore (Rs 110 million) on landfill on the property which originally belonged to Behram Jeejeebhoy in Pahadi village, Goregaon.
The owner had sold the land to the Pahadi Development Corporation which in turn transferred the same to Usha Madhu Development CHS.
While Usha had given the vacant land to Jeejeebhoy for development, the latter had entered into an MoU with Sahara for the construction of residential premises in 2001.
However, Jeejeebhoy in July 2005 had terminated the MoU on the ground that Sahara had failed to start construction activities and the Maharashtra government had declared it as no-construction zone.
Aggrieved by the developer's decision, Sahara had challenged the termination order in the High court and claimed