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MUMBAI: Bombay high court on Tuesday said at this stage no interference was warranted in a plea filed by a company known as Pegasus Clubs & Resorts Pvt Ltd who had two decades ago invested in RWITC and sought a stay on the club’s EGM citing an arbitralaward in its favour.
The company said it and and RWITC had gone into arbitration proceedings and after aconsent award in 2018 a revised agreement was executed between RWITC & Pegasus.
Following a decision by the State government and BMC to considera proposal for renewal of RWITC’s lease of only 91 acres as against the 221 acres it wasoccupying til date on lease , Pegasus approached the HC on Monday. It filed a petition under Section 9 of the Arbitration Act seeking stay on the EGM.
Justice Bharati Dangre on Tuesday did not intervene at this stage after hearing Senior counsel Girish Godbole and counsel Mayur Khandeparkar for Pegasus and .senior counsel Tushad Cooper with advocate Sameer Tapia forRWITC.
Justice Dangre said the Managing Director of Pegasus who is a member of the RWITC was at liberty to attend the meeting and make its case there and raise any greivance. The meeting was held and it approved the resolution to empower the managing committee to negotiate the deal for renewing the lease, with majority of 76% of the members voting in favour of the resolution.
The company said it and and RWITC had gone into arbitration proceedings and after aconsent award in 2018 a revised agreement was executed between RWITC & Pegasus.
Following a decision by the State government and BMC to considera proposal for renewal of RWITC’s lease of only 91 acres as against the 221 acres it wasoccupying til date on lease , Pegasus approached the HC on Monday. It filed a petition under Section 9 of the Arbitration Act seeking stay on the EGM.
Justice Bharati Dangre on Tuesday did not intervene at this stage after hearing Senior counsel Girish Godbole and counsel Mayur Khandeparkar for Pegasus and .senior counsel Tushad Cooper with advocate Sameer Tapia forRWITC.
Justice Dangre said the Managing Director of Pegasus who is a member of the RWITC was at liberty to attend the meeting and make its case there and raise any greivance. The meeting was held and it approved the resolution to empower the managing committee to negotiate the deal for renewing the lease, with majority of 76% of the members voting in favour of the resolution.
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