Bombay HC Upholds Deemed Conveyance for Commercial Society
MUMBAI: On Wednesday, the Bombay High Court upheld a deemed conveyance awarded by a deputy registrar to a commercial cooperative society in Andheri East. The court ruled that a law established for public interest cannot be superseded by a contract between a builder and flat purchasers that allows the builder to retain development rights over the land. Krishna Developers challenged the deemed conveyance granted to Corporate Centre Premises Co-operative Society Ltd., which represents the unit owners of three buildings registered in 2007. The builder’s lawyer argued for executing the conveyance while reserving specific rights under the agreements with flat purchasers.…