The legal representatives of veteran industrialist Vijaypat Singhania and his son Gautam today informed the Bombay High Court that the two were likely to meet this week to try and resolve the property dispute between them amicably as suggested by the court.
The high court had last month suggested to the father-son duo to hold meetings, along with their lawyers, to try and arrive at an amicable solution since the dispute was personal.
Singhania has moved the high court alleging that Gautam, who is the chairperson and managing director of Raymond Ltd, is refusing to fully honour an arbitration award over a property dispute among the family members.
Raymond is yet to give him the possession of a duplex flat in the multi-storied JK House building in south Mumbai as per the award, Singhania has alleged.
Senior counsels Dinyar Madon and Janak Dwarkadas, representing Singhania and Raymond respectively, told the bench of Justice G S Kulkarni that the lawyers and the parties (the father-son duo) were scheduled to meet this week.
Following this, the judge posted the matter for further hearing on September 11.
The court said till then, its interim order, directing Raymond not to create third-party rights (sell or lease out) in the two floors of JK House, which are the subject matter of the dispute, shall continue to be in force.
As per a 2007 family agreement, Singhania, Gautam and the widow and two sons of Singhania's brother Ajaypat, are to get a duplex apartment each in JK House, which is a family property.
Singhania, in his petition, has alleged that Gautam is occupying a bigger area in JK House than he is entitled to. He has also said that Raymond failed to respond to his offers of payment to get possession of the duplex.
Thus, he was left with no choice but approach the high court, Singhania said, seeking a direction restraining Raymond from creating any rights in JK House, and the appointment of a court receiver to take possession of the duplex apartments.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)