JUDGMENT :

DHANANJAYA Y. CHANDRACHUD, J.

A. Background

B. Proceedings before this Court

C. Salient features of the transaction documents

D. Submissions of the parties

E. Analysis

E.1. Maintainability of the writ petition under Article 226

E.2. Contractual right to compensatory payment

E.3. Apportionment of the liabilities between the instrumentalities of the state of Andhra Pradesh and Telangana

F. Summation

A. Background

1. The appeals arise from a judgment dated 1 April 2019 of a Division Bench of the High Court for the State of Telangana. Three appeals will form the subject matter of these proceedings. The three appeals which arise have been instituted by -

(i) UNITECH Limited (“Unitech”);

(ii) Telangana State Industrial Infrastructure Corporation (“TSIIC”); and

(iii) State of Telangana.

2. In September 2007, the Andhra Pradesh Industrial Infrastructure Corporation Ltd. (“APIIC”) invited bids to “develop, design and construct” an integrated township project / multi services aerospace park in the area of about 350 acres of land in Nadergul Village, Saroornagar Mandal, Ranga Reddy District.