India, Jan. 31 -- Pramit Jhaveri and his wife, Mukeeta, purchased a luxury apartment on South Mumbai's Carmichael Road for Rs.38.16 crore, according to property registration documents accessed by Zapkey.

Jhaveri, the former CEO of Citibank India, has decided not to seek another term at the Sir Dorabji Tata Trust, one of the two principal trusts that control the $300-billion Tata group. His tenure ends on February 11, Mint reported on January 31.

Jhaveri and his wife, Mukeeta, had purchased the apartment at Rs.1.36 lakh per sq ft in Echay House, a project developed by JSW Realty, according to the documents.

The apartment has a carpet area of 2,805 sq ft, and the purchase, along with its car parking spaces, was registered on November 29,...