- (1.) Leave granted.
(2.) Being aggrieved by the Judgment dated 14th March, 2011 delivered by the High Court of Judicature of Andhra Pradesh at Hyderabad in O.S.A.No.18 of 2008, this appeal has been filed by the Andhra Pradesh Industrial Infrastructure Corporation Ltd.
(3.) The circumstances in which the aforestated appeal has been filed are as under: The appellant is a Government Corporation which allots plots of land for the purpose of setting up industries to different persons. The plots are allotted on certain conditions and if the conditions are not fulfilled or if the entire payment is not made within the time stipulated, the allotment is cancelled and possession of the plot is taken back by the appellant. In pursuance of the aforestated activity of the appellant-Corporation, under a letter dated 31st August, 1988, the appellant-Corporation had allotted a plot to M/s. Team-Asia Lakhi Semiconductors Ltd. on conditions incorporated in the said letter. The allotment was made in pursuance of an application dated 20th August, 1988 submitted by the M/s. Team-Asia Lakhi Semiconductors Ltd. and the plot was valued at Rs.1,22,67,500/- and the said amount had been calculated at the rate of Rs.250/- per sq. meter. The said amount had to be paid to the appellant-Corporation within sixty days from the date of the receipt of the allotment order. It is an admitted fact that within the period prescribed, the entire price of the plot had not been paid by the said allottee to the appellant-Corporation and in the circumstances, as per clause 8 incorporated in the said letter, which reads as under, the amount paid by the afore-named company had been forfeited. "8. If payment as stipulated in condition (3) above is not made within 60 days of receipt of this allotment letter, this allotment letter shall stand cancelled and the EMD paid shall remain forfeited.";