(1.) LEAVE granted.
(2.) THE Mumbai Metropolitan Region Development Authority (for short, 'the Authority') was created under the Mumbai Metropolitan Region Development Authority Act, 1974 ('the Act'). It conceptualized the idea of establishing a Convention and Exhibition Centre ('CandEC). Pursuant thereto and in furtherance thereof it called for "Expression of Interest for development of CandEC" in Bandra Kurla Complex. An advertisement was issued inviting 'Expression of Interest for development of CandEC'. Appellant No.1, pursuant whereto and in furtherance whereof, entered into a Memorandum of Understanding (MoU) with M/s. Larsen and Toubro Ltd. (LandT) for setting up such a complex. It also conducted conference of investors therefor. It submitted its tender on 7.4.2003, highlighting:
(3.) THE Authority, however, took a decision to reject all the bids on 1.9.2003, which was said to have been communicated to Appellants by a fax message on 22.10.2003. Allegedly, the news item appeared in the 'Economic Times' on 2.10.2003, wherein, inter alia, it was reported that : a) THE Authority is close to finalizing the much talked about Convention centre in Bandra Kurla Complex. b) An official of the Authority had stated that they were trying to get private participation and three bidders had been finalized and in a few days the plans for the Centre would be finalized in an area of 5.5 hectares.