Veteran actor Dilip Kumar has finally retrieved possession of his disputed Pali Hill property in Mumbai. The property was earlier under the possession of a real estate firm called Prajita Developers Pvt Ltd.
Dilip Kumar’s wife and veteran actor Saira Banu were handed over the keys to the disputed property today in the presence of the Mumbai police. An elated Saira Banu today posed with the keys for the paparazzi.
Earlier, it was reported that Dilip Kumar was asked to deposit a registration amount of INR 20 crores to the real estate firm who was appointed to develop the property. However, no construction took place on the said property.
A bench of Justices J Chelameswar and S Abdul Nazeer rejected the plea of Prajita Developers Pvt Ltd for enforcement of the agreement. The Court appointed its former judge Justice P Venkatarama Reddy as an arbitrator to examine whether the firm was entitled for damages from the superstar.
A leading news agency quoted the bench say, “We do not also see any justification for the demand of the Prajita for the specific performance of the agreement. In the circumstances of the case, we are of the opinion that permitting the continuance of the suit for specific performance of the agreement which is more than a decade old against a person from whom Prajita secured the development rights of the property in dispute which ultimately would enable Prajita to 25 per cent of the monetary value of the development potential as against the right of the appellant who is entitled to 75 per cent of the monetary value of the development potential would be unjust.”