Judgment

K. N. SAIKIA, J.:- Appellant No. 1 is a registered Housing Co-operative Society registered under the U. P. Co-operative Societies Act, bearing Registration No. 2130 dt. 27-3-1973, hereafter referred to as the Society, and appellants Nos. 2, 3 and 4 are respectively the President, Secretary and Treasurer of the Society. The object of the Society is to acquire lands for its members for constructing residential houses for them. The members are Central and State Government employees and public sector employees; and more than 70 acres of land situated in villages Chhalera Bangar and Sutnari were acquired by the Society between January, 1973 and September, 1975.

2. For development of certain areas in the State of U.P. into industrial and urban township and for matters connected therewith, the U. P. Industrial Area Development Act, 1976, hereafter referred to as the Act, was enacted and thereafter the U. P. Government by a Notification dated 17-4-1976 declared the villages named in the schedule annexed to the Notification to be an Industrial Development Area within the meaning of the Act, to be called "NOIDA".

3. Soon after constituting this Authority a Notification under Ss. 4 and