(1.) The applicant is a statutory body under the Bihar Industrial Area Development Authority Act, 1974. This Act was adopted by the State of Jharkhand, after its formation.
(2.) On 16th May, 1986 the applicant granted a lease of 12 acres of land to M/s. Jamshedpur Cement Ltd. for a period of 99 years commencing from 16th May 1986. It is situated at M-20P, 6th Phase, Adityapur Industrial Area, District - Seraikella, Kharsawan in the State of Jharkhand. It was to be used for industrial purposes.
(3.) Now, this lease had some restrictive covenants which have become very important for the purposes of adjudication of the disputes in this application.