Marvel Realtors' Cascada Balewadi - Public Notice

Achalare Associates (www.achalareassociates.com) issues 'Public Notice' - The Times of India, Pune Edition, Saturday, 14th April 2012 - with an intention to make property buyers aware about the legal issues about Marvel Realtors' (www.marvelrealtors.com) Cascada - 2 BHK, 3 BHK, 3.5 BHK & 4 BHK Flats at Balewadi - Pune 411 045:

Marvel Cascada Balewadi Public Notice

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Marvel Realtors' Note On “MARVEL CASCADA” at Balewadi, Pune:

1) Shri Ramesh H. Hansrajani and Three Others were the Owners of Part of the land whereon “MARVEL CASCADA” is being developed.

2) The said Shri.Ramesh H. Hansrajani and Three Others entered into a Memorandum of Understanding dated 26.11.2003 with M/s.Achalare Associates, a proprietory concern against payment of a sum Rupees One Lac Only. However, on account of breaches committed by the said M/s.Achalare Associates, the said Memorandum of Understanding dated 26.11.2003 was terminated by the said Shri.RameshHansrajani and Three Others.

3) The said M/s.Achalare Associates filed a Suit [bearing Special Civil Suit No.1103 of 2004] in the Court of the Civil Judge, Senior Division, Pune at Pune seeking specific performance of the said Memorandum of Understanding and for other reliefs. The said M/s.Achalare Associates sought Interim Orders from the said Court restraining the said Shri.Ramesh H. Hansrajani and Three Others from alienating / transferring or dealing of the said Land pending hearing and final disposal of the said Suit. However, the said Trial Court rejected / dismissed such Application made by the said M/s.Achalare Associates. The said M/s.Achalare Associates therefore preferred an Appeal from Order to the Hon’ble High Court, Bombay. The Hon’ble High Court Bombay dismissed the said Appeal preferred by the said M/s.Achalare Associates on merits. The said M/s.Achalare Associates has not challenged the said Order of the Hon’ble High Court before the Hon’ble Supreme Court of India and hence the said Order of the Hon’ble High Court, Bombay dismissing the Plea of M/s.Achalare Associates for Interim Relief is final. Despite its Plea being rejected by the Hon’ble High Court, Bombay, the said M/s.Achalare Associates again made an Application for Interim Injunction in the said Pending Suit. However, the said Application was also dismissed by the Trail Court. The said M/s.Achalare Associateshas not challenged such Order dismissing his said Application in any Superior Court. In the meanwhile, the Land in question was sold by Shri.Ramesh H. Hansrajani and Three Others to M/s.Runal Developers and M/s.Runal Developers has entered into an Agreement with Marvel Sigma Homes Private Limited for development of the said Land.

4) Marvel Sigma Homes Private Limited submitted the Building Plans in respect of the construction to be carried out by it on the said Land to the Municipal Corporation of Pune and the said Corporation sanctioned such Building Plans. M/s.Achalare Associates had taken written objection before the Municipal Corporation of Pune for sanction of the said Plan. However, the Legal Department of the said Corporation found no merit in the said claim made by M/s Achalare Associates and, accordingly, the said Corporation sanctioned the said Building Plans.

5) The said M/s.Achalare Associates has filed a second Suit [bearing No.362 of 2012] in the Court of the Civil Judge, Senior Division, Pune at Pune against, inter-alia, the Municipal Corporation of Pune, M/s.Runal Developers and Marvel Sigma Homes Private Limited. No fresh cause of action has accrued to M/s.AchalareAssociatse for filing the said second Suit and the same is purely a frivolous litigation initiated by M/s.Achalare Associates.

6) We have taken legal advice and we have been assured that there is no merit in the claim made by M/s.Achalare Associate in the light of the Judgements of the Hon’ble High Court, Bombay and of the Hon’ble Supreme Court under the Speicifc Relief Act and in view of the observations made by the Hon’ble High Court, Bombay in its Order dismissing the Application for Interim Relief made by M/s.Achalare Associates. Even in the very unlikely event of the Trial Court ruling that the termination of the said Memorandum of Understanding by the said Shri.Ramesh H. Hansrajani and Three Others being unjustified, the only relief available to M/s.Achalare Associates is to claim pecuniary damages from the said Shri.Ramesh H. Hansrajani and Three Others. However, specific relief of the terms of the said Memorandum of Understanding will not be granted.

7) All these facts are covered in the Title report issued by our Advocate Rajiv Patel and Associates.