JUDGMENT

Najmi Waziri, J. (ORAL)

The hearing has been conducted through hybrid mode (physical and virtual hearing).

1. The respondent applied for conversion of leasehold property bearing no. 222, Okhla Industrial Estate, New Delhi -110020 admeasuring 2435 sq. yds to freehold property under the extant policy. The lessor DSIIDC states that the applicant was obliged to pay 50% of the unearned increase value of the property. The basis for the said demand was that there has been a change in the shareholding of the company. The said demand was impugned before this court in a writ petition (W.P.(C)6231/2013) which was allowed by the learned Single Judge vide order dated 22.02.2019 holding inter alia as under:

"...9. The issue whether a change in the shareholding warrants imposition of unearned increase was considered by the Coordinate Bench of this Court in K.G. Electronics Pvt. Ltd. v. DSIIDC Ltd, W.P. (C) 2324 of 2013, wherein it was held that the guidelines in question do not provide for the payment of unearned increase in case of transfer of shares in a company and, therefore, the respondents are not entitled to claim unearned increase. It is relevant to note that in that case, the