Judgment

BALAKRISHNA ERADI, J.:- When the hearing of these appeals was concluded on November 11, 1982, after elaborate arguments had been addressed by learned counsel appearing on both sides, we announced our decision allowing the appeal (C. A. No. 2611 of 1981) by passing the following order :

"The appeal is allowed. The judgment and order of the Division Bench of the High Court presided over by learned Acting Chief Justice is set aside and the one by learned single Judge, Dr.. A. S. Anand is restored and consequently the Writ Petition No. 436 of 1980 filed by Respondents in the High Court of Jammu and Kashmir stands dismissed. No order as to costs of hearing in this Court. The legal consequence, of this order will take effect from November 16, 1982. All interim orders passed by this Court shall stand vacated from the midnight between 15th and 16th November, 1982. Reasons will follow."

We now proceed to state. in this judgment the reasons in support of our aforesaid conclusion.

2. In July, 1966, the appellant Ved Gupta decided to embark upon a venture to construct and operate an air-conditioned Cinema in a plot of land which he proposed to take on lease in Gandhi Nagar, Jammu, in coll