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| Arun Bajoria |
Calcutta, Feb. 19: Calcutta High Court has allowed the heirs of jute baron Arun Bajoria to sell his disputed properties. However, the final judgment on the cases filed by Sanjay Bajoria will have a bearing on the deals.
According to the ruling, the sale pact with a buyer will have to mention that a case filed by Arun Bajoria’s cousin Sanjay Bajoria is with the high court and each party must abide by the final results of the case.
Sanjay had claimed he was the 15 per cent owner of certain assets or properties of Arun Bajoria and his companies. He had demanded a 15 per cent stake in a few jute mills in Bengal and Andhra Pradesh and some properties in Calcutta and filed a case before the court on September 25. In a separate case, Sanjay had sought a ban on the sale of any Bajoria property by his heirs — wife Lata Bajoria and four daughters.
Calcutta High Court justice Nadira Patherya today passed an interim order on the property sale case.
The final hearing on the case is expected to take place before the high court four weeks later.
“If anyone wants to buy disputed properties, they can. But, both property buyers and sellers have to abide by the final order of the high court,” Sandip Agarwal, advocate for Sanjay Bajoria, told The Telegraph.
In the petition, Sanjay had mentioned that the two cousins had worked as joint venture partners since 1999 till Arun Bajoria’s death in March. These assets are now worth about Rs 1,000 crore.
Sanjay Bajoria is staking a claim to around Rs 150 crore of the late jute baron’s Rs 3,000-crore estate. This include Aruna Jute Mill, East Coast Jute Mill, Bobbili Jute Mill, Mangalpur Jute Mill, Hukumchand New Expansion Mills and properties associated with these mills.
He has also staked a claim to real estate projects in Garden Reach, Kona, Behala and on CR Avenue and Sooterkin Street.
The project on CR Avenue is the E-Mall (formerly Magnet House).
Sanjay is staking his claim on the strength of two handwritten notes, which have been challenged by the heirs to the Bajoria estate.
