A concluded contract requires mutual agreement on essential terms, including payment and delivery, without which claims to the land become unenforceable.

JUDGMENT

1. Heard the learned counsel for the petitioner, the learned Standing Counsel for the 2nd respondent and the learned Government Pleader for the 1st respondent.

2. This writ petition is filed questioning the G.O.Ms.No.4, Municipal Administration and Urban Development Department dtd. 22/1/2021 issued by the 1st respondent permitting the 2nd respondent to cancel the land allotment in an extent of Ac. 31.30 cents (an extent of Ac.22.71 cents in Sy.No.7, 165/P & 166 and an extent of Ac. 8.59 cents in Sy.No. 67/P of Kommadi Village, Visakhapatnam Rural Mandal & Visakhapatnam District) in Kommadi Village in favour of the petitioner-company and the consequential order in Rc.No.9464/2005/L&T/F1 dtd. 22/1/2021 passed by the 2nd respondent.

3. The learned counsel for the petitioner submits that the petitioner-company is a Special Purpose Vehicle incorporated on 22/12/2006 by Larsen and Toubro Limited and Vision Ventures limited exclusively for implementation of the project i.e, developing, financing, constructing and marketing residential township in Visakhapatnam District as per the terms and conditions stipulated by erstwhile Visakhapatnam Urban Development Authority (VUDA) now the respondent No.2 vide its Letter of Award (LOA) R.C.No.9464/05/P.M.U dtd. 28/11/2006. The 2nd respondent was assigned an extent of Ac. 55.15 cents in Sy.No.1 of Vepagunta Village, Pendurthi Mandal, Visakhapatnam District under RC.No.411/2000/Special R.I dtd. 30/9/2000 for the purpose of comprehensive development by the respondent No.1 and accordingly, the respondent No.2 for the purpose of developing the said land with Housing Project on Public Private Partnership (PPP) Mode issued a notification on 11/12/2005 calling for Expression of Interest (EOI) from the prospective and reputed developers registered in the Country or Multi National Companies having Member Consortium with Indian Companies to design and to build, finance and market independent dwelling units/bungalows. In pursuance of the notification issued by the 2nd respondent, the petitioner company submitted and participated in the competitive bidding process and was declared as the highest final bidder and accordingly passed the evaluation of technical business and commercial proposals as consortium between M/s Larsen & Toubro, Chennai and Vision Ventures Private Limited for the development of housing project at Vepagunta, Visakhapatnam on the land in an extent of Ac. 55.15 cents in Sy.No.1 on the joint venture basis under PPP mode. The Letter of Award (LOA) R.C.No. 9464/05/P.M.U dtd. 28/11/2006 was also issued to the consortium lead by Larsen & Toubro limited. In terms of the conditions in the LOA dtd. 28/11/2006, the petitioner-company was incorporated as Special Purpose Vehicle/Joint Venture to complete the development project. Thus, the petitioner-company was specifically incorporated for the purpose of implementing the project contemplated by the respondent No.2. The petitioner-company inter-alia established regional offices, created office infrastructure, hired qualified engineering and senior staff, marketing and advertising agents to complete the project within a period of 30 months as stipulated in the LOA dtd. 28/11/2006. In pursuance of the said LOA dtd. 28/11/2006, the development agreement dtd. 31/3/2007 was executed incorporating the terms and conditions for development of the project. The power of attorney was also executed on the same date i.e, 31/3/2007 by and between the 2nd respondent and the petitioner-company. The development