SRJ 1 gp-34-10.sxw IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION GUARDIANSHIP PETITION NO.34 OF 2010 Vijay M. Sathaye .. Petitioner V/s. Paarth V. Sathaye S/o. Vijay M. Sathaye .. Respondent. Shri Farhan Dubhash and Nishant Sashidharan i/b. Pravin Mehta & Mithi & Co., for Petitioner. CORAM :R.S.MOHITE,J. DATE : 29th July,2010 P.C.:- 1. Heard learned Advocate for the Petitioner. 2. Advocate for the Petitioner has tendered compilation of original documents and Affidavit of Shri Vijay M. Sathaye, both dated 29th July, 2010 along with file of original documents. The said file is taken on record and may be returned back after comparison by the office, on an application made by the Petitioner. 3. The Petition is filed by the Petitioner who is father of the minor by name Paarth V. Sathaye for being appointed as a guardian in respect of the undivided share, right, title and interest of the minor Respondent in the immovable property which is described at Ex.B of the SRJ 2 gp-34-10.sxw Petition and for development as per the agreement dated 13th October, 2009. The said agreement has been executed by the Petitioner and other family members who also hold a share in the said property. The developers who have to develop the said property under the agreement dated 13th October, 2009 are one M/s.Disha Construction or their nominees. It is seen that under the said agreement, the Petitioner has received an amount of Rs.33 lakhs and is also entitled to receive an area of 7689.90 sq. ft. in the re-developed property. It is also the case of the Petitioner that the minor would have to get 1/4th share and the area which will come to the share of minor would be 1922.47 sq.ft. 4. The Petitioner undertakes to deposit an amount of Rs.8.25 lakhs in the name of minor in a Fixed Deposit in a Nationalized Bank, which will be invested initially for a period of three years and the same will be renewed till the minor attains majority. The Petitioner, his wife and brother of minor, who is major have filed joint affidavit dated 28th July, 2010 in which they have annexed map of the 5th floor plan of the re-developed property. They state that three premises as marked in red in the said plan bearing nos. 16,17 and 18 & area of 1944 built up will be kept as a share of the minor. They state that in so far as these premises are concerned, they may be permitted to give the said premises on leave and licence basis during the period of minorship and hand over the same to the minor after the minor attains majority. SRJ 3 gp-34-10.sxw 5. In view of these circumstances and the undertaking given as aforesaid, and as there is no objection from any person and as the minor is sufficiently protected, I am inclined to allow this Petition in terms of prayer clauses (i) (ii), (iii) and (iv) subject to following conditions:- (i) that an amount of Rs.8.25 lakhs will be deposited by the Petitioner in a Fixed Deposit in a Nationalized Bank initially for a period of 3 years within a period of two weeks. This deposit to be renewed without withdrawal on annual basis and thereafter, till the minor attains the majority and thereafter the matured amount will be handed over to the minor; (ii) that the three commercial offices bearing nos.16,17 and 18 as marked in red in Ex.1, are kept for the benefit of the minor. The Petitioner will not create any encumbrance on these premises kept for the benefit of the minor. He may be permitted to give these premises on the leave and licence basis and without creating any other interest during period of minority. The possession of these premises will be handed over to the minor on his attaining the majority. 6. In the above circumstances, Petition stands disposed off. However, list it after two weeks for proof of compliance. (R.S.MOHITE,J.)