R.D. DHANUKA, J.

1. Rule, returnable forthwith. Respondents waives service. Heard finally by consent of parties.

2. This Petition is filed under Article 226 of the Constitution of India challenging the validity of Notification No. BRU2011/ C.R.(211/11) Ind. 10 dated 26th May, 2011 issued by State of Maharashtra in relation to Respondent No.2 which has been declared as relief undertaking from time to time for last about 12 years.

3. In order to understand the grievances of the Petition, certain facts are necessary to be stated:

4. Petitioner No.1 is a Social Activist and is Regional Coordinator of AGNI “Action for good Governance and Networking in India”. Petitioner No.2 is a Chartered Accountant. Petitioner Nos.3 and 4 are retired corporate executives. Respondent No.2 is primarily in construction of housing projects at various locations in Mumbai, Thane, Navi Mumbai and its suburbs.

5. It is the case of the Petitioner that the Petitioners had purchased flats in Lok Everest Complex and Respondent No.2 had misappropriated amount collected towards corpus fund, property tax etc. in contravention of the provisions of Section 5 of MOFA and had not provided promised amenities to