A bench headed by Justice Altamas Kabir sought reply from builder B Jeejeebhoy Vakharia and associates and others in two weeks. The developer also gave an undertaking that it would not create any third party rights till the next date of hearing.

The real estate company of the Sahara group - Sahara India Commercial Corporation (SICC) -- has challenged the High Court's division bench's interim order that vacated the single judge order that restrained Jeejeebhoy from creating third party rights while dealing with the land worth more than Rs 50,000 crore in Aarey colony in Goregaon.

Sahara claims to have spent around Rs 36.5 crore including Rs 11 crore on landfill on the property which originally belonged to Behram Jeejeebhoy in Pahadi village, Goregaon. The owner had sold the land to the Pahadi development corporation, which in turn transferred the same to one Usha Madhu development CHS.

While Usha had given the vacant land to Jeejeebhoy for development, the latter had entered into a MoU with Sahara for the construction of residential premises in 2001.

However, Jeejeebhoy in July 2005 had terminated the MoU on the ground that Sahara had failed to start construction activities and the Maharashtra government had declared it as no-construction zone.

Aggrieved by the developer's decision, Sahara had challenged the termination order in the High Court and claimed damages.