Wadia trust to submit ad draft: HC

The Bombay High Court today asked the N H Wadia Trust to submit a draft of the advertisement to be published regarding an auction of a prime piece of land owned by it to the Prothonotary within one week. Division bench of Justices S B Mhase and Ashutosh Kumbhakoni said that the fresh auction of the land was only to find out the market price of the land. The Prothonotary would record the bids and forward the details to the Charity Commissioner. The Court was hearing an application filed by the son of one Sakharam Patil who was the original lessee of the land, claiming his rights as the Trust was planning to sell it. The 5722 sq mtr land, located in Kalina, North Mumbai, was leased to Patil and his family for agriculture in 1938. The land was cultivated till 1984. In 2004, the Trust decided to sell the land and approached the Charity Commissioner after evaluating the land value at Rs 1.5 crore, without disclosing about the lease given. The Charity Commissioner had subsequently valued the land at Rs two crore, which is much below the market price, petitioners said, who are seeking their claim of the auction price. Charity Commissioner had, persuant to the matter being brought to Court, conducted an auction last month. The highest bidder — Kalptaru builders, was ready to pay Rs 51.46 crore for the land. Kalptaru's bid is not cancelled, considering that fresh bids are being invited, Court said. By Ms.Bobby Aanand, Metropolitan Jury.

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