ZOOM DEVELOPERS (PVT) LTD Vs. STATE OF KERALA

JUDGEMENT

(1.) The petitioners have approached this Court seeking the following reliefs:

(2.) Heard the learned Senior Counsel Sri.Joseph Kodianthara appearing for the petitioners and the learned Advocate General appearing for the 1st respondent as well as Advocate Sri.Gopinatha Menon, the learned counsel appearing for the 2nd respondent.

(3.) It is submitted by the learned Senior Counsel appearing for the petitioners that the petitioners had executed Exhibit P1 lease deed with the 2nd respondent. Forty acres of land in Sy.No.321/1 part of Thrikkakara Village, Kanyannur Taluk, which forms part of an industrial park was leased out to the petitioners for developing an international exhibition and trade centre. It is stated that Exhibit P3 tripartite agreement dated 5.6.2009 was executed between petitioners 1 and 2 and the 2nd respondent for developing the project. It is stated that the first phase of the project was liable to be completed by 2.4.2016 in terms of Exhibit P10 supplementary agreement. As a condition for extending the time, the petitioners had remitted a sum of Rs.3 crores to the State Bank of India to close O.A.No.351 of 2011 filed before the Debt Recovery Tribunal, Ernakulam Bench. It is stated that transfer of lease was effected by the 1st petitioner in favour of the 3rd petitioner by document No.1345/14 of SRO, Edappally and all steps had been taken to complete the first phase before 2.4.2016. However, Exhibit P11 notice dated 24.11.2014 was issued requiring the 1st petitioner to surrender the land. Though the petitioners stated that time had been granted till 2.4.2016, further steps were taken seeking surrender of land which is under challenge.