( 1 ) THE petitioners - M/s. Andhra Scientific company Limited, Machilipatnam represented by its Managing Director (for short the company )/ a Director and two shareholders of the company seek a declaration that the letter of the 2nd respondent dt 20-9-1991 is invalid and for a consequential direction to the respondents to pay the balance residuary amount to the petitioner-company.

( 2 ) BY a letter dt 22-7-1991, the company addressed the Government of India, ministry of Law and Company Affairs seeking payment of residual compensation amounts under the provisions of me Andhra scientific Company Limited (Acquisition and Transfer of Undertakings) Act, 1982 (for short the 1982 Act ) (Central Act No. 71 of 1982 ). In the said communication, the petitioner-company specifically claimed the compensation amounts due to them under sections 7 and 8 of the 1982 Act, asserting that after all the liabilities under Sec. 21 read with the Schedule to the 1982 Act are met, an amount over Rs. 1,00,00,000/- was left with the Commissioner of Payments and under section 23 of the 1982 Act, the Commissioner of Payments was obligated to pay these amounts to the company. The letter also