A bench headed by Justice H K Sema while dismissing the the Maharashtra State Wakf Board's petition as withdrawn asked the board to approach the Bombay High Court.
The Maharashtra State Board of Wakf, the custodian of all wakf property in the state, had sought direction to the Maharashtra government to stay the construction of the house on a 4,532 sq m plot in Malabar Hill (south Mumbai).
The Wakf Board had challenged the sale of a prime property to Antilia Commercial, a company floated by the Ambani family in 2002, from Currimbhoy Ebrahim Khoja Orphanage in 2002 in a public auction for over Rs 21 crore.
Antilia had also obtained all the necessary clearances from concerned authorities, including the state government for the construction of the house reportedly built for over $2 billion. The Wakf Board had issued a notice to Currimbhoy Ebrahim Khoja Orphanage, a charitable trust, seeking repossession of the property.
"Thus it is seen that there is a collusive action on the part of trustees and the Antilia in transferring the property to the company," the petition filed by the Wakf Board Chief Executive Officer stated.
According to him, the market value of the property was around Rs 400 crore at present and would have been more than Rs 150 crore when the land was transferred to Antilia only for Rs 21 crore.
However, two years after the deal, the Wakf Board had sought explanation from Antilia as to why the deal was made without