A three-judge bench headed by Justice T S Thakur said it will hear the petition when Solicitor General Ranjit Kumar, appearing for the state, cited urgency for an early decision.
"The idea behind holding such an event is to attract investments in Maharashtra and certain events have been allowed to be held at Girgaum beach in the past also," the Solicitor General said.
The Bombay High Court had last week refused to allow the state to hold the event at Girgaum Chowpatty in south Mumbai.
The Maharashtra government had filed an application before the high court after a committee, appointed by HC in 2001 to monitor activities on the beach, asked the government to seek the court's permission.
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The HC-appointed committee had in 2005 submitted the guidelines on what activities and functions can be permitted to be held at the Girgaum Chowpatty beach.
In its application, the state had said it proposed to host a 'Maharashtra Night' on February 14 at Girgaum Chowpatty, to showcase its art and culture and industrial development, adding that the event will end with a laser show and fireworks display.
"This 'Make in India' event is much grand and important. At least three Prime Ministers of different countries are excepted to attend the event along with several other VIPs and foreign delegates. The function will be open to the public also," the state had told the high court.
the state government never objected to the committee's guidelines when it was recommended and even when it was accepted by the court in 2005.
The state, through its counsel had informed the court that while the function will be held on February 14 for four hours in the evening, the government will start construction of stage, toilets and other temporary structures from today.
Around two lakh sq ft area on the beach will be used for the function with 500 to 600 chairs for VIPs and other guests after which the place will be open to public, it had said.