LAW FOR ALL

public auction= auction settlement by the Mumbai Housing and Area Development Board (hereinafter referred to as “the MHADA”), of a plot of land = The interim order of this Court dated 04.09.2014 was not a carte blanche for a mandatory settlement with the Appellant. The High Court has noticed that the value of the property today would be approximately 75 crores. In the land starved city of Mumbai, the settlement of any government land, for a housing project, has to be by public auction only, so as to fetch the best price in the larger public interest.= The Respondent has only itself to blame for its woes, based on a conduct that cannot be countenanced in law. It is therefore not entitled to any interest on the deposit made by it which shall be refunded by MHADA within four weeks. The Appellant is found to have been wronged, but must bear part of the blame for laches on its part also. It is therefore held entitled to interest @ 8% on the deposit made by it including the earnest money, only till 24.06.2005, to be paid within six weeks.