K PANKAJAKSHAN Vs. GENERAL MANAGER DISTRICT INDUSTRIES CENTRE

JUDGEMENT

(1.) The petitioners are stated to have been running an industry under the name and style 'A.P.Steel ReRolling Mills' in 2 acres 82.5 cents of land in the Industrial Development Plot, Kanjikode, Palakkad.

(2.) According to the petitioners, the land in question was allotted to the first among them on hire purchase basis by the first respondent - General Manager, District Industries Centre, Palakkad and that he had paid the entire purchase value of Rs. 2,70,466/- as early as in the year 1993.

(3.) As per the first petitioner, when he made the full payment of the value of the land, Exhibit P3 certificate was issued to him by the first respondent recording therein that he is fully entitled to get the purchase certificate for the said land and that the District Industries Centre has no objection in him mortgaging the land or the buildings to be constructed thereon. The petitioners submit that after the land was so allotted, the second petitioner company was incorporated under the provisions of the Companies Act, 1956, so as to run the business with the first petitioner as its Managing Director.