1 IN IN IN THE HIGH COURT OF JUDICATURE OF BOMBAY THE HIGH COURT OF JUDICATURE OF BOMBAY THE HIGH COURT OF JUDICATURE OF BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO.629 OF 2008 IN COMPANY PETITION NO.76 OF 1991 Laxmichand Bhagaji Ltd. ..Petitioner And Parul Jain & Ors. ..Applicants. V/s. Management Committee of Laxmichand Bhagaji Ltd. & Ors. ..Respondents. Mr.Shailesh Shah with Mr. Swapnil Bangar i/b. Kalpesh Nansi for applicant. Mr.Sanjeev Punalekar for Respondent No.1. Ms.Jyoti Singh with Mr. Avinash Singh Gautame i/b. Dhour Assoc. for Respondent Nos. 2,21,37,39 & 40. CORAM: CORAM: CORAM: A.M.KHANWILKAR,J A.M.KHANWILKAR,J A.M.KHANWILKAR,J DATE DATE DATE : OCTOBER 10, 2008. : OCTOBER 10, 2008. : OCTOBER 10, 2008. P.C. P.C. P.C. : : : 1. Heard Counsel for the parties. 2. According to the Applicants directions be issued to the Managing Committee to execute sale deed in favour of the Applicants who are nominees/third parties of the Respondent No.2. On the other hand, according to the Respondent No.2 and the Managing Committee, sale deed cannot be executed in favour of the Applicants herein. 3. The Respondent No.2 submits through the Counsel that the Respondent No.2 will have no 2 objection if documents in the form of settlement deed or confirmation deed is executed in favour of the Applicants herein. 4. The Counsel for the Managing Committee submits that the Managing Committee would facilitate execution of such documents, as may be agreed upon between the Respondent No.2 and the third parties/nominees, subject however to registration procedure and formalities required to be observed therefor. In other words, if sale deed cannot be registered in respect of the disputed land, the Managing Committee cannot be blamed for that situation. The Managing Committee is expected to execute requisite documents recognising the nature of rights created in favour of the third parties/nominees, subject to the extant regulation regarding registration of such documents in terms of the Order dated January 17, 2008. 5. The Managing Committee through Counsel assures to execute such documents, as and when occasion arises. That assurance is accepted. 6. This Application disposed of on the above terms. (A.M.KHANWILKAR,J) (A.M.KHANWILKAR,J) (A.M.KHANWILKAR,J)