JUDGMENT

R.K. Agrawal, J.

1) Challenge in the above said appeals is to the legality of the impugned common judgment and order dated 14.11.2011 rendered by learned single Judge of the High Court for the States of Punjab & Haryana at Chandigarh in F.A.O. Nos. 3372 and 3488 of 2011 whereby the High Court allowed the appeals filed by the respondent-State.

2) Factual position in a nutshell is as follows:-

(a) On 22.06.2005, a Concession Agreement was entered into between the Government of Punjab (through Director, State Transport, Punjab) and M/s Welspun Projects Ltd. (formerly known as M/s MSK Projects India Ltd.)-the appellant-Company to design, finance, construct, operate and maintain the Bus Terminal Project at Jalandhar on Build, Operate and Transfer (B.O.T) basis and to determine, levy, demand, collect and retain the fees for a period of 8 years, 5 months and 21 days.

(b) A similar Concession Agreement was entered into between the parties mentioned above for the Bus Terminal at Ludhiana on the same basis for a period of 10 years and 3 months.

(c) On 16.08.2005 and 25.10.2005, lease deeds were entered into between the parties for the project sites at Jalandhar and Ludhiana respectiv