Vijaya Bank is the petitioner. This writ petition is filed assailing the proceedings, dated 08-1 0-2004, of the first respondent herein as illegal, arbitrary and without jurisdiction and for a consequential direction to the first respondent to execute agreement/sale deed in favour of the second respondent company in respect of the land, which was earlier allotted by the first respondent to M/s. Asian Steel Industries Limited.

2. The brief facts that are necessary for disposal of the writ petition are as follows: The first respondent allotted land admeasuring 12,733.10 square yards comprised in plot Nos.14, 23, 24, 26 and D-13 situated at Industrial Estate, Moula-Ali in favour of the second respondent for establishment of industry for manufacturing galvanized wires and wire products. The plots were handed over to the second respondent. Subsequently in accordance with the Scheme of Amalgamation, M/s. Asian Steel Industries Limited merged with second respondent and all the assets and liabilities of the transferor company were taken over by second respondent company. The second respondent company entered into a Memoradum of Understanding (MoU) on 14-03-1987 with third respondent fo