[ecis2016.org] The legal representatives of veteran industrialist Vijaypat Singhania and his son Gautam Singhania, informed the Bombay High Court that the two were likely to meet this week, to try and resolve the property dispute between them amicably
Senior counsels Dinyar Madon and Janak Dwarkadas, representing industrialist Vijaypat Singhania and Raymond Ltd, respectively, on September 4, 2017, told a Bombay High Court bench of justice GS Kulkarni that the lawyers and the parties were scheduled to meet this week, to try and resolve a property dispute between the two parties. The high court had, in August 2017, suggested that Singhania and his son Gautam hold meetings, along with their lawyers, to try and arrive at an amicable solution since the dispute was personal.
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Singhania had moved the high court, alleging that Gautam, who is the chairperson and managing director of Raymond Ltd, was refusing to fully honour an arbitration award over a property dispute among the family members. Raymond was yet to give him the possession of a duplex flat in the multi-storeyed JK House building in south Mumbai as per the award, Singhania had alleged.
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The court has posted the matter for further hearing on September 11, 2017. The court said till then, its interim order, directing Raymond not to create third-party rights (sell or lease out) in the two floors of JK House, which are the subject matter of the dispute, shall continue to be in force.
As per a 2007 family agreement, Singhania, Gautam and the widow and two sons of Singhania’s brother Ajaypat, are to get a duplex apartment each in JK House, which is a family property. Singhania, in his petition, alleged that Gautam was occupying a bigger area in JK House than he was entitled to. He had also said that Raymond failed to respond to his offers of payment, to get possession of the duplex. Thus, he was left with no choice but to approach the high court, Singhania said, seeking a direction restraining Raymond from creating any rights in JK House, and the appointment of a court receiver to take possession of the duplex apartments.
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Source: https://ecis2016.org
Category: Lifestyle
