JUDGMENT - V.G. PALSHIKAR, J.:---By this petition, the petitioner has challenged the sanction granted by the Pune Municipal Corporation to certain development plans submitted by respondent No. 7.

2. The petitioner is a textile mill which was declared as SICK unit by the Board for Industrial and Financial Reconstruction and steps were taken for rehabilitation and revival of the unit. The company i.e. the petitioner owned certain properties bearing Final Plot Nos. 100 and 101 of T.P. Scheme (Final) Sangamwadi, Pune in all measuring 1.02 lakh sq. mtrs. (approximately) situated at Kennedy Road, Pune city within the limits of Pune Municipal Corporation. Therefore in July 1996 the Board directed the petitioner company to undertake development of surplus assets as part of the rehabilitation scheme so that the company can be brought out of the debts to be paid to some extent. Permission therefore was granted to develop upto the extent of 2 lakhs of sq.fts. of the land from out of the above said plots. This rehabilitation scheme was sanctioned by the Board on 18-3-1997. The development was allowed to be undertaken along with the respondent No. 7 as co-developer or co-promoter. On 29-4-1997 a

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