- (1.) Leave granted.
(2.) The appellants herein filed a writ petition before the Allahabad High Court for quashing an order dated 21.6.2006 issued on behalf of the New Okhla Industrial Development Authority (hereinafter referred to as 'NOIDA') cancelling the allotment of Plot No.A-28 in Sector 62 made in favour of the appellant.
(3.) Admittedly, the appellant made an application for allotment of the aforesaid plot measuring 8000 square meters pursuant to an advertisement published on behalf of the NOIDA inviting such applications and made an initial deposit of Rs. 13,20,000/ - while submitting the application. On 17.4.2003 an order of allotment was issued in favour of the appellant whereby the petitioner was required to deposit 25 per cent of the premium amount in cash or by a bank draft in favour of NOIDA within 60 days of such allotment. It was categorically stipulated that if the said amount was not deposited within the time specified the depositor's earnest money would be forfeited and no extension of time would be granted for deposit of the said amount under any circumstances. The balance 75% of the premium amount was required to be deposited by the allottee in 10 equal half-yearly instalments along with interest at the rate of 14% per annum on outstanding premium. Here also, it was categorically stipulated that no extension for payment of instalments would be granted and if the allottee failed to pay the instalments within due dates the allotment would be cancelled and the amount equivalent to 25% of the premium would be forfeited in favour of the NOIDA. In exceptional circumstances, however, the Chief Executive Officer of NOIDA was vested with the discretion to extend the time for making deposits, which would be subject to payment of interest @ 17% per annum compounded every half yearly on the defaulted amount for the defaulted period.;