Jyotirmay Bhattacharya, J.

Gramphone Company India Limited was incorporated on 13th August, 1946 under the then Companies Act, 1913. The name of the said company was subsequently changed to Saregama India Limited on or about 3rd November, 2000 and a fresh certificate of incorporation was granted by the Registrar of Companies, West Bengal. For the sake of convenience, the said Saregama India Limited, the petitioner herein is hereinafter referred to as the said company.

Admittedly, the said company was an intermediary, holding in total 16.29 acres of rent free land at different places within Mouzas Horse Ford and Dum Dum Cantonment, District 24 Parganas (South) on the date when the West Bengal Estate Acquisition Act, 1953 came into operation, i.e., on the 1st day of Baisakh of Bengali Year 1362. The said 16.29 acres of the said company’s land was comprised in several plots; some of such plots were classified as “Danga”, and others were classified as “Pukur” and “Karkhana”, etc. Out of said 16.29 acres of land, 14.33 acres of land comprising of “Danga”, “Pukur”, “Karkhana”, etc. was numbered and identified as 33, Jessore Road, Calcutta. Remaining 1.96 acres of land comprising