Altamas Kabir, J. - (1.) All these appeals have been filed by the Syndicate Bank against the common judgment passed by the Division Bench of the High Court of Andhra Pradesh on 6thAugust, 2003, dismissing the several writ petitions filed by the Bank.
(2.) Briefly stated the facts leading to the filing of the Special Leave Petitions are that M/s. United Auto Tractors Private Limited, (for short the Company) one of the common respondents in all these appeals, applied to the Government of Andhra Pradesh for allotment of 100 acres of land in the industrial area for setting up of an industry for manufacturing agricultural tractors and implements. The Government of Andhra Pradesh by its letter dated 18thJuly, 1972 written by the Director of Industries allotted 51 acres of land in Nacharam Industrial Development Area, Hyderabad, to the company for setting up of the said industry. An Agreement was entered into on 3rd August, 1972 between the Government of Andhra Pradesh and the Company which required the company to pay to the Government the cost of the land plus development charges as determined by the Government. As a condition precedent to place the Company in possession of the plot, an initial payment of not less than Rs. 2,46,840/- being 50% of the costs, was required to be paid. The Company agreed to execute a promissory note in favour of the Government for the balance unpaid cost of the land plus development charges.
(3.) Under the Agreement, the Government agreed to the Company raising money on the property agreed to be sold provided the financial agency agreed to pay on behalf of the Company so much of the amount advanced as loan to the Company as would remain due on the said promissory note. Financing agencies were required to obtain prior consent of the Government in case they advanced more than 60% of the value of the land.;