JUDGMENT - THAKKER C.K., C.J.:—This petition is filed by the petitioners for quashing and setting aside a demand notice dated 23rd December, 2003 for an amount of Rs. 2,09,64,344/- (Exh. K). A prayer is also sought directing respondent No. 1 to accept building completion certificate dated 11th April, 1989 issued by the Area Manager of respondent No. 1 Corporation.

2.The case of the petitioners is that petitioner No. 1 is a Public Limited Company having its registered office at Plot No. F-4, Maharashtra Industrial Development Corporation, Badlapur, Dist. Thane. Petitioner No. 2 is the Executive Director of petitioner No. 1. Respondent No. 1 is Maharashtra Industrial Development Corporation ("MIDC" for short), a Government of Maharashtra undertaking constituted under the Maharashtra Industrial Development Act, 1961 (hereinafter referred to as "the Act"). Respondent No. 2 is the State of Maharashtra.

3.The grievance of the petitioners is that the Deputy Engineer of the first respondent illegally refused to accept the Building Completion Certificate ("BCC" for short) issued by the Area Manager of respondent No. 1. Consequently a demand was made for payment of more than rupees two crores

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