Allowed
Madhukar S. Sheth HUF v. Saumya Rajiv Sheth and 4 Ors.
Bombay HCMP/6/2015
Case brief
AI extract
What is this about?
The Bombay High Court permitted the Karta of the HUF to sell Mumbai property for purchasing a residence in Ahmadabad. The Petitioner was allowed to sell the property since three adult children agreed to the transaction and undertook to keep the new property in the HUF name. Any surplus would be invested in FD for five minor children.
What did the court decide?
Permission granted to sell the Mumbai property in favor of purchase of property in Ahmadabad in the name of the HUF. Surplus if any to be invested in FD for five minors.