STATE OF MAHARASHTRA vs BHAKTI VEDANTA BOOK TRUST .

The Supreme Court ruled that the reservation of land under the Maharashtra Regional and Town Planning Act, 1966, specifically under Section 127, lapsed due to the failure of the authorities to initiate acquisition proceedings within the stipulated time. The Court held that the rejection of the respondent's building plan was legally untenable as the reservation had not been acted upon, thus allowing the respondent to proceed with their construction plans. The judgment emphasized the need for timely action by authorities in land acquisition matters to uphold the rights of landowners.