ORDER :- The question involved in this application under Art.226 of the Constitution, is, whether the petitioner No. 1 is entitled to compensation in accordance with the provisions of the Indian Electricity Act, 1910 for the right of option exercised by the respondents. Originally, in the petition, the petitioners had also challenged the exercise of that option but during the hearing of this application on behalf of the petitioners that challenge was not pressed.

2. This application is by two petitioners, one, being Patna Electric Supply Co. Ltd. and another being a director and shareholder of the said company, In order to appreciate the challenge, if may be necessary to refer to certain facts. It appears that an the 6th Feb. 1924, a licence was granted by the Government of Bihar to M/s. Octavius Steel and Co. Ltd. for the supply of Electrical energy. There was a notification on the 13th Feb. 1924 in respect of grant of the said licence and the said licence was thereafter transferred in favour of the petitioner No. 1. A notice was published by the Government of Bihar relating to certain proposed amendments to be made to the said licence dated 6th Feb. 1924. It is not necess