Wadia filed a suit in Bombay High Court on May 13 and demanded that Rahejas demolish the buildings inlcuding Palm Spring Centre, and Unique Commercial Complex among others built on the 478 acres land and demanded damages.
Wadia has mentioned the names of GL Raheja, Sandeep G Raheja, Sonali G Raheja, and Ferrani Hotels belonging to GL Raheja Group as the main defendants, a public notice released in the newspapers showed.
The agreement required the developer to sell or lease the land or any structure built by him on it only to genuine third parties. It was alleged that GL Raheja group has sold or leased the properties to their own sister concerns and shell companies created for the purposes of purchase of these properties.
Wadia has revoked the agreement with Ferani Hotels Pvt Ltd of G L Raheja Group dated January 2, 1995 with effect from May 12, 2008 and also two power of attorney executed by him in favour of Sandeep G Raheja and Sonali G Raheja.
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Wadia has also mentioned names of 45 group companies of GL Raheja group in the suit against them.
A case has also been filed on behalf of Ferrani Hotels in the High Court, but G L Raheja group officials were not available for comments.
Interestingly, Wadia has already moved the Bombay High Court against G L Raheja's brother C L Raheja and his sons Ravi C Raheja and Neel C Raheja and nephews Rahul S Raheja and Ashish S Raheja, for violating the agreement between him and the Rahejas on developing nearly 200 acres of land in Malad.
In that suit also, it was alleged that C L Raheja group had sold or leased properties to their own sister concerns and shell companies created for the purposes of purchase of these properties.
Wadia demanded damages worth Rs 350 crore from them. The case in pending in High Court and expected to come up for hearing on June 25.
K Raheja Constructions and K Raheja Hospitality, promoted by G L Raheja group, has completed nearly 2000 projects in the country in residential, commercial and industrial sectors.