Dipak Prakash Kundu, J. - (1.) Larsen and Toubro Ltd. (hereinafter referred to as the Company), the petitioner No.1, in the year 1991, purchased the Premises No. 16, Abanindra Nath Thakur Sarani, Calcutta (hereinafter referred to as the laid premises) through Calcutta High Court Sale at a sum of Rs. 409 lakhs from the previous owner. At the material time of purchase, the valuation of the said premises was Rs. 30,000/- with effect from 4th quarter of 1990-91.
(2.) After purchase of the said premises by the Company, a special notice dated 25.8.1992 under section 184(4) of the Calcutta Municipal Corporation Act, 1980 (hereinafter referred to as the said Act) was issued to the said company by the Assessor of Calcutta Municipal Corporation (hereinafter referred to as the Corporation).
(3.) By the aforesaid special notice dated 25.8.1992, the company was informed that the said premises had been assessed at an annual value of Rs. 27,60,750/- and the said valuation was to remain in force from the commencement of the 3rd quarter of 1991-92 until a fresh valuation is made. By the said special notice the company was informed "The Grounds of Revision" which are-"Revaluation of the premises with effect from 3/1991-92 on estimated yearly rental valueless statutory allowances for repairs due to change of ownership by way of purchase." By the said special notice the company was further informed that in case the company would hie any objection in writing to the aforesaid revised valuation, the same would be considered and heard by the Hearing Officer-I (hereinafter referred to as H.O.-I) on 8.9.1992 at 11.30 a.m.;