SAFEGUARD PACKAGING SYSTEMS Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) Sri Ganachari, learned HCGP is directed to take notice on behalf of the respondents.

(2.) The Karnataka Industrial Area Development Board (hereinafter referred to as the 'Board' or 'KIADB') is a statutory body established and incorporated under the Karnataka Industrial Area Development Act, 1966. The main functions of the said Board is to establish and develop industrial areas and make available industrial sites to industrial undertakings to establish themselves for the rapid and orderly establishment and growth of industries in Karnataka and to maintain, develop and manage industrial estates within industrial areas. The Board allotted Plot No. 2A of Dyavasandra, II Phase, Industrial Area, Bangalore, measuring 5110 sq. mt. to the petitioner under an Agreement dated 26-3-1980 subject to performance and observance of the conditions of the said agreement.

(3.) After the petitioner fulfilled the conditions of the said agreement, the Board conveyed the said site to the petitioner under a registered sale deed dated 25-11-1992 for a value of Rs. 76,717/- (made up of Rs. 56,260/- which was the initial price fixed in the year 1980 plus Rs. 570/- paid as rent plus Rs. 19,887/- towards difference in cost). The said Deed of Conveyance has been registered in the office of the second respondent as Document No. 6459 of 1992-93. The second respondent, after registering the instrument, referred the same to the third respondent under S. 45-A of the Karnataka Stamp Act, 1957 ('Act' for short) for determination of the market value of the said property and the proper duty payable therein. The third respondent has issued a notice dated 12-9-1994 (Annexure-C) calling upon the petitioner to be present for a hearing with document/ evidence to prove the market value.