P.K. Majumdar, J. - (1.) By this application under article 226 of the Constitution the legality and validity of the acquisition proceedings initiated in respect of No. 9B, Bechulal Road, Calcutta -K has been challenged by the petitioner Satyam Co -operative Housing Society Ltd. The challenge in subsistence is that there has been undue and unexplained delay on the part of the Calcutta Improvement Trust the respondent no.1 and also Land Acquisition. Collector the respondent no. 4 in proceeding with the acquisition proceedings. The petitioner No. 1 is a Co -operative Society (hereinafter referred to as the Society) registered under West Bengal Co -operative Societies Act, 1973 and consist of about 85 members belonging to the low and middle income ground, who do not own any residential accommodation in the town of Calcutta. The petitioner no. 2 is a member of the said society. The society was formed for the purpose of providing residential accommodation to its members by constructing building at premises no. 9B, Bechulal Road, Calcutta (hereinafter referred to as the said premises).
(2.) The said premises was initially a part of the premises No. 9, Bechulal Road, Calcutta which belonged to Lahas. The said Lahas had, inter alia, mortgaged the said premises in favour of Bengal Central Bank Ltd. which was subsequently renamed as United Bank of India Ltd. As the said Lahas failed to perform and observe the terms and condition's of the said mortgage the United Bank of India filed a mortgage suit against the Lahas in regard to the said premises no. 9B, Bechulal Road, Calcutta. Such mortgage suit was filed in or about 1953.
(3.) On or about 20th March, 1957 a final decree for sale was passed in the said mortgage suit and the registrar, Original Side, of this Court was directed to sell the premises. In pursuance of the said decree the Registrar Original Side of this Court took steps for sale of the said premises, no. 9B, Bechulal Road, Calcutta, inter alia, after giving wide publicity before conducting such sale. Notice of sale was duly published in various newspapers in or about 1967 and at the sale held by the Registrar, Original Side, of this Court on or about 24th June, 1976, the United Dank of India Ltd. being the mortgagee, namely the plaintiff in the said mortgage suit, being declared as the highest bidder, purchased the property for a sum of Rs. 1,25,000/ -. The aforesaid sale was confirmed by an order dated 12th June, 1969 by this Court and the said certificate of sale was duly signed and issued by the Registrar of this Court. The said certificate of sale was also registered with the Registrar of Assurance, Calcutta. Thereafter, the said Laha approached the said United Bank of India Ltd., the plaintiff in the said mortgage suit for release and re -transfer of the said premise -being no. 9B, Bechulal Road, Calcutta. The matter was being considered by the bank and by a resolution of its Board dated 20th June, 1981 the United Bank of India Ltd. agreed to sell and transfer the said premises no. 9B, Bechulal Road, Calcutta to Lahas or their nominees at a consideration of Rs. 3,06,000/ -.;