AIR 1992 BOMBAY 62 ::1992 (2) BomCR 492 ::(1993) Mah LJ 323 ::(1992) 2 BankCas 441

Bombay High Court

Hon'ble Judge(s): D. R. Dhanuka , J

(A) Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act (45 of 1963) , S.2(c), S.3, S.4, S.9, S.11— Maharashtra Ownership Flats (Regulations of the Promotion of Construction, Sale, Management and Transfer) Rules (1981) , R.3 Model Form V— Promoter - Who is - Different categories of promoters. It emerges from the scheme of the Act read with the definition of the expression "Promoter" contained in S. 2(c) of the said Act and R.5 and the statutory form that the Promoter must fall in either of the following categories:- (1) The Promoter may be the owner of freehold land; or (2) The Promoter may be the lessee of the land intended to be developed, provided the indenture of lease authorises the promoter to construct flats and sell the same on ownership basis; (3) The promoter may have entered into an agreement to purchase the land from the lawful owner thereof. In such a case, the Vendor of the promoter must have a valid title to the said land and the agreement must not be terminable by the Vendor; (4) The Promoter is an agent of the owner or of the authorised lessee duly entitled to construct and dispose of flats on ownership basis. In such a case, the promoter/developer must make the owner of freehold or leasehold interest as Confirming Party to th....