John Abraham in realty row

John Abraham in realty row
12 Jun 2008, 0300 hrs IST, Swati Deshpande,TNN

MUMBAI: Actor John Abraham is embroiled in a legal battle over a real estate purchase he made in 2006. He had purchased the entire fourth floor of Orbit Plaza in New Prabhadevi for Rs 11.5 crore.

Earlier this year, a private glass company dragged him and developer, Orbit Finance Pvt Ltd, to the Bombay HC claiming that it was the original purchaser of the floor. In March, Justice D Y Chandrachud allowed Abraham, who is in possession of the 4,500 sq feet premises, to give it out on leave and licence on the condition that no permanent third party rights are created.

The glass company, which said the fourth floor commercial space was sold to it two months before it was sold to Abraham in August 2006, then went in appeal. On Wednesday, the appeal came up in the HC but was adjourned till Friday.

The glass company said it had entered into a sale agreement with Orbit in June 2006 for two units on the fourth floor for Rs 3 crore. Possession was promised in early 2008 but in January, there was an advertisement for sale of the same premises. Orbit promised the glass company similar area on the sixth floor and even promised to pick up the stamp duty tab but Parekh refused and demanded the fourth floor back.

Abraham, however, has argued that his payment outgoings began in March 2006 much before the other purchaser came on the scene.