mumbai the bombay high court on thursday ruled in favour of real estate developer gopal raheja allowing his company ferani hotels to continue developing and selling properties on over 460acre land in malad suburb of mumbai on thursday division bench comprising justice dy chandrachud and justice rd dhanuka asked ferani hotels to also continue depositing 12 revenue share arising out of such development in a separate bank account it has asked rahejas to maintain accounts of all sale transactions in this muchtalked about legal battle industrialist nusli wadia and raheja had locked horns over development rights of the land parcel wadia was earlier appointed as caretaker of this land parcel by the owner bachoobai dashkow who passed away in 2003 wadia was seeking to terminate the development agreement it had entered into with raheja in 1995 with this order wadias efforts to stop construction and sale by raheja on the malad land parcel have not been entertained by the court the court has appointed former justice sk shah as independent commissioner to record evidence of all the erstwhile transaction for properties built on the land parcel wadia has claimed that some of these transactions were executed below the ready reckoner rate it has also directed both the parties to go to a singlejudge bench within three months to decide on various preliminary issues including limitations and jurisdictions the court has prima facie accepted the feranis stand on limitation non granting of extreme adinterim relief like court receiver stay on construction which were belatedly sought said vivek vashi partner bharucha partners last week the court had advised both the parties to seek a mediator to work out a mechanism to protect their respective rights however wadias rejected this offer senior counsel abhishek manu singhvi along with vivek vashi of bharucha partners represented the rahejas while wadias were represented by senior counsel fali nariman and navroz seervai along with doijode associates