ORDER

 The facts leading to contempt proceedings are as under:

 On 8-10-1980, an auction was held by the Delhi Development Authority (hereinafter referred to as the DDA) of the Commercial Tower Plot, Jhandewalan, Block E, New Delhi admeasuring about 2540 sq. mtrs. The first respondent, M/s. Skipper Construction Co. (P) Ltd. (hereinafter referred to as the Skipper) was the highest bidder, its bid being Rs. 9.82 crores. As per the conditions of the auction, Skipper deposited 25 of the bidamount. The said bid was confirmed by the DDA on 14-10-1980. Skipper was called upon to make the balance of payment of 75 of the bid amount within 90 days as per the conditions of the auction.

 2. The Government of India issued directions to the DDA to accept the request of Skipper and to grant an indulgence to it and directed the DDA to reschedule the recovery of 75 of the bid amount with interest from the Skipper. Consequent to this, DDA called upon the Skipper to enter into fresh agreement, licence agreement and furnish bank guarantees in compliance with the, directions of the Central Government.

 3. On 11-8-1987, Skipper entered into a licence agreement, paid 50 of the original bid and secure