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Compulsory pre-emptive purchase not necessary in collaboration agreement between owner & developer
Case Law Details
- Case Name
- Unitech Ltd. Vs UOI (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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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...
