The Supreme Court has remanded back to the Bombay High Court a Sahara Group company's petition challenging the latter's order that had earlier stalled its plan to build 200 bungalows and a golf course on a 600-acre plot, worth Rs 50,000 crore, on Mumbai's outskirts.
However, it has asked developer B Jeejeebhoy Vakharia and Associates not to create third-party rights while dealing with the plot in Aarey Colony in Goregaon.
B Jeejeebhoy Vakharia had enetered into an agreement with Sahara in 2001 for constructing residential premises but terminated the deal in 2005 on the grounds that the latter had 'failed to start' work.
A bench headed by Arjit Pasayat also directed the High Court to dispose of the matter preferably within three months.
