EDELWEISS ASSET CONSTRUCTION COMPANY LIMITED Vs. R. PERUMALSWAMY AND ORS.
SUPREME COURT OF INDIA
Edelweiss Asset Construction Company Limited
R. Perumalswamy And Ors.
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DR.DHANANJAYA Y CHANDRACHUD, J. -
(1.)The present appeals [Civil Appeal Nos. 1318 and 1319 of 2017] arise from a judgment and order of a Division Bench of the High Court of Judicature at Madras dated 22 December 2016. While allowing a writ appeal [WA no 1201 of 2016] filed by the first respondent, the Division Bench of the High Court set aside the judgment and order of a learned Single Judge dated 30 August 2016, which was rendered in a challenge by the appellants to an order dated 28 December 2015 of the District Revenue Officer [DRO], Tiruvallur.
(2.)WS Industries (India) Ltd., the appellant in Civil Appeal No 1319 of 2017 was incorporated on 23 August 1961 under the Companies Act 1956. Between 27 December 1961 and 8 May 1963, the State of Tamil Nadu issued various notifications under Section 4(1) of the Land Acquisition Act 1894, seeking to acquire 49.67 acres of land situated at Porur Village, Ambattur Taluk, Tiruvallar District, Tamil Nadu. The land which was the subject matter of acquisition under a notification dated 20 June 1962, included survey numbers 70/1, 73/2 and 77, comprising an overall area of 46.04 acres. On 4 July 1962, the State of Tamil Nadu issued a notification under Section 6 of the Land Acquisition Act with reference to 11.61 acres comprised in survey numbers 70/1, 73/2 and 77. On 17 October 1962, a notification was issued under Section 6 with reference to 1.50 acres of land comprised in survey number 70/1. This was followed by awards dated 20 August 1963, 28 March 1963, 25 October 1963 and 7 November 1963 covering an aggregate area of 13.11 acres of land.
 "Land Acquisition Act"
(3.)On 26 February 1964, a registered deed of assignment was executed by the Governor of Madras in favour of WSIL for an area of 46.04 acres including the disputed land. The deed of assignment recorded that the State of Tamil Nadu had been paid an amount of Rs. 1,86,528.52 by WSIL towards the cost of acquisition. In August 1964, WSIL availed of a loan from ICICI Bank which was secured by a deposit of the title deeds of the disputed lands. WSIL also obtained various loans and credit facilities from other banks which were secured by the creation of mortgages on land stated to be admeasuring about 29 acres.
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