Compulsory pre-emptive purchase not necessary in collaboration agreement between owner & developer

Brief of the case: In case of Unitech Ltd. Vs. UOI Hon’ble SC has set aside the order passed by Bombay HC in a writ petition filed by asseessee against the order under section 269UD. Hon’ble SC have held compulsory pre-emptive purchase illegal. Hon’ble court take note of its observation in C.B. Gautam’s case ((1993) 1 SCC 78) that unless the difference in the apparent effective consideration and the market value is more than 15%, the Appropriate Authority cannot assume jurisdiction under section 269-UD of the Act. The same does not mean that the mere fact that such difference is more t...