KJ 1 IN THE HIGH COURT OF JUDICUATURE AT MUMBAI ORDINARY ORIGINAL CIVIL JURISDICTION MISC. PETITION NO.6 OF 2010 Shri Ashesh Pravinchandra Goradia .. Petitioner V/s. Master Chintan Ashesh Goradia .. Respondent ---- Mr.Mukesh B. Bhagat for the petitioner. ---- CORAM : R.S.MOHITE, J DATE : 15/7/2010 P. C.: 1 Heard Advocate for the petitioner. This petition is for sanction of a proposed sale and the petition is filed under Section 8 of the Hindu Minority & Guardianship Act 1956. The petitioner is the father and the natural guardian of the respondent minor Master Chintan Ashesh Goradia. It is seen that earlier, the present purchaser Bharat Vora had agreed to purchase a flat and in view of such agreement, petition has been filed as Misc. Petition No.12 of 2007 for grant of permission to sale the said flat to Mr. Bharat Vora. That petition being Misc. Petition No.12 of 2007 was allowed by this Court on 26.6.2007 subject to various conditions KJ 2 mentioned therein. At that point of time, consideration of the flat was Rs.3.44 crores. The said purchaser has now made offer of about 5.25 crores. In this fact situation, I am inclined to allow this petition. The permission is therefore, granted to the petitioner to sell the flat no.15-A situated in New Akash Ganga Co-operative Housing Society Ltd., to Mr. Bharat Vora or his nominee for an amount of Rs.5.25 crores on the following conditions :- (a) That prior to receipt of consideration amount, the petitioner will open a fresh bank account in a nationalised bank in the name of the minor ; (b) The consideration amount will be deposited in this account alone and will not be withdrawn by the petitioner without obtaining prior permission of the Court ; (c) Out of the consideration amount lying in deposit of the bank, the petitioner will first take out insurance policy of Rs.10 lakhs in the name of the minor. (d) The balance amount lying in deposit may be invested in a fixed deposit to be taken out in the name of the minor initially for a period of three years and thereafter will be renewed on a yearly KJ 3 basis till minor becomes a major ; (e) That from the amount lying in deposit, or lying in the fixed deposit (with accrued interest) the petitioner will be entitled to invest in a suitable flat for the minor, which flat will be purchased in the name of the minor. Any subsisting FD may be broken for this purpose. The said purchase however, will be made by placing the proposed transaction before this Court and obtaining prior leave of this Court. Petition made absolute in the aforesaid terms. (R.S.MOHITE,J.)