DESHPANDE, J. :- This petition under Arts.226 and 227 of the Constitution of India is directed against an order of requisition dated 20th May 1976 passed under Bombay Land Requisition Act, 1948 (hereinafter referred to as the Act). The petitioner is a limited concern registered under the Companies Act. Constructing building and selling the flats therein is its business. For this purpose, the Company purchase plots, raise construction thereon consisting of several flats, and then sell the same to the needy purchasers for profit and then get a society of such purchasers formed under the Co-operative Societies Act of 1960 as required under the Maharashtra Ownership Flats (Regulation the Promotion of Construction, Sale, Management and Transfer) Act, 1963 (hereinafter referred to as the Ownership Flats Act), in whose favour the Company executes the conveyance. The petitioner purchased a plot No. B/359 at Mount Pleasant Road and constructed a building thereon known as Rajat Apartments consisting of ground floor and six upper floors up to 43' from the Bench mark, comprising of 56 flats and 44 garages. A Co-operative Society of the purchasers of the flats was formed on the Feb., 1