1. - Instant company application has been filed Under section 446 (2)(a), (b) and (d) of Companies Act, 1956 ("Co. Act") read with R.9 of Companies (Court) Rules, 1959 ("Co. Court Rules") assailing three orders dated 26/04/1995 (Ann.A/5, A/6, and A/7) whereby respondent-RIICO cancelled the allotments of plots NO.A-463, A-464, A-465 as well as agricultural land admeasuring 62 bighas and 11 biswas situated at Matsya Industrial Area, Alwar, made to M/s. Rathi Alloys and Steel Ltd. under lease agreements dated 03/07/91 (Ann.A/1) and dated 22/04/88 (Ann.A/2) and dated 07/07/1992 (Ann.A/3) because the lessee-Company failed to comply with conditions of lease deeds executed between the parties.

2. M/s. Rathi Alloys and Steel Ltd. ("Lessee-Co.") was allotted industrial plots No. A-463, A-464 and A-465 as well as agricultural land admeasuring 62 bighas and 11 biswas situated at Matsya Industrial Area, Alwar ("for short, "industrial plots") for setting up an industry under lease agreements dated 03/07/1991 (A-463), dated 22/04/88 (A-464 and 465) vide letters of allotment dated 18/06/93 and dated 07/07/92 ((Ann.A/3 and A/4).

3. However, vide order dated 24/08/2001 in Company Petition NO