Tarun Chatterjee, J.—

1. This appeal by special leave is directed against the judgment and order dated 27th of May, 1999 of the Division Bench of the High Court of Allahabad in Writ Petition No 38748 of 1997 whereby, the Division Bench of the High Court had dismissed the Writ Petition filed by the appellants above named.

2. The relevant facts leading to the filing of this appeal, as emerging from the case made out by the appellant may be summarized as follows:-

New Okhla Industrial Development Area (in short “Noida”) allotted lands to several Co-operative Housing Societies by execution of lease deeds with such Co-operative Group Housing Societies in respect of the lands allotted to them. The said lease deeds contain various restrictions on the transfer of leasehold rights which, interalia include:

1) Restrictions on the transfer without prior consent of the Noida authorities by transfer memorandum.

2) Construction of buildings on such leasehold lands had to be made within a stipulated period from the date of allotment failing which the leases of the respective Co-operative housing societies were liable to be resumed by the Noida authorities.

3. The lease deeds also contain