NEW MILLENIUM INDIA PROPERTY DEVELOPERS PRIVATE LIMITED Vs. MAHARASHTRA INDUSTRIAL DEVELOPMENT CORPORATION

JUDGEMENT

(1.) Rule. Mr. Sakhare, Learned Senior Counsel waives service on behalf of Respondent No.1. Ms. M.S. Bane, learned AGP waives service on behalf of Respondent Nos.2, 3 and 4. Ms. Ayushi Anandpara, learned counsel waives service on behalf of Respondent No.5. Rule is made returnable forthwith. By consent of parties, both the proceedings were heard finally and are being disposed of by a common order.

(2.) Some of the relevant facts for deciding both the Petitions are as under.

(3.) It is the case of the Petitioners that pursuant to Agreement dtd. 26/12/2006, between the Petitioners and the Emerald Buildcon Pvt. Ltd., the said Emerald Buildcon Pvt. Ltd. were to acquire 1300 acres of land situated in Taluka Khalapur, Dist. Raigad, Maharashtra for implementation of the project as described in the said Agreement. Under the said Agreement i.e. Emerald Buildcon Pvt. Ltd., i.e. Respondent No.5 advanced aggregate sum of Rs.41,38,23,000.00 to Petitioner No.1.