The Bombay High Court recently stayed an order of the assistant registrar of cooperative housing societies, who had directed the freezing of the bank account of a housing society in Goregaon (East), after the society refused to comply with an order of the Slum Rehabilitation Authority (SRA).
The SRA had asked the society to issue share certificates of two of the six flats belonging to owner Siddhant Mantri, as he had failed to furnish required documents. Siddhant is the son of Sunil Mantri, director of Mantri Realty, which is under liquidation, and had built the residential society.
Justice Sandeep K Shinde was hearing a plea filed by Mantri Serene CHS Limited at Dindoshi in Goregaon (East), which objected to the assistant registrar’s order – passed under Maharashtra Cooperative Societies Act – stating that same was done at the instance of BJP MLA Sunil Rane. Advocates Amogh Singh and Atul Singh, appearing for the petitioner, said the housing society had been developed under SRA scheme by Mantri Realty in 2013. In 2021, Siddhant had applied to the society seeking share certificates of six flats he had purchased in September 2013.
The society’s plea claimed that Siddhant’s action smacked of malafide as Mantri Realty was under liquidation and as per the companies Act, any sale or transfer by the company within six months prior to commencement of winding up process would be deemed to be a fraudulent practice. It added that Siddhant’s attempt seemed like isolating properties belonging to the developer, which would otherwise be auctioned.
Subscriber Only Stories
As per the plea, the HC had in 2016 directed the official liquidator to take over all fixed assets of Mantri Realty since it defaulted in paying over Rs 300 crore to lenders. As some of its properties were taken over by the liquidator, the society had also submitted details of the six concerned flats to the liquidator.
The society said it refused to issue share certificates as Siddhant could not provide original sale agreement. He then approached the assistant registrar, who granted him deemed membership of the society. The society went on to file a revision plea before the minister of co-operation, but the same was rejected, prompting it to approach HC.
The HC, while posting hearing to November 29, said: “In the meantime, the operation of an order dated September 21, 2022 is stayed. As a consequence, the State Bank of India, Gokuldham Branch, Goregaon (East) shall allow the society to operate its Bank Account.”
Source: https://news.google.com/__i/rss/rd/articles/CBMiiwFodHRwczovL2luZGlhbmV4cHJlc3MuY29tL2FydGljbGUvY2l0aWVzL211bWJhaS9ib21iYXktaGMtc2Vla3MtY2hzLWFzc2lzdGFudC1yZWdpc3RyYXItdG8tanVzdGlmeS1hY3Rpb24tYWdhaW5zdC1nb3JlZ2Fvbi1zb2NpZXR5LTgyMzYwOTIv0gEA?oc=5
