ORDER

Leave granted. We have heard the counsel on both sides.

2. This appeal by special leave arises from the judgment of the Division Bench of the Madras High Court, made on June 29, 1993 in W.A. No. 712/93.

3. The admitted position is that pursuant to the notification published under Section 4(1) of the Land Acquisition Act, 1894 (for short, the "Act") in G.O.R. No. 1392 Industries dated October 17, 1962, total extent of 6 acres 41 cents of land in Madhavaram Village Saidapet Taluk, Chengalpattu District in Tamil Nadu was acquired under Chapter VII of the Act for the manufacture of Synthetic Rasina by Tvl. Reichold Chemicals India Ltd., Madras. The acquisition proceedings had become final and possession of the land was taken on April 30, 1964. Pursuant to the agreement executed by the company, it was handed over to Tvl. Simpson and General Finance Co. which is a subsidiary of Reichold Chemicals India Ltd. It would appear that at a request made by the said company, 66 cents of land out of one acre 37 cents in respect of which the appellants originally had ownership, was transferred in G.O.M.S. No. 816 Industries dated March 24, 1971 in favour of another subsidiary company. Shri Rama