Seeking a direction for regularisation of land initially allotted to M/s Jaishree Engineering Works comprised in plot nos. 166 and 167 at Tupudana Industrial Area, in terms of recommendation/decision taken in the meeting of PCC/LAC dated 03.03.2012, the present writ petition has been filed. A further prayer seeking declaration that the petitioner is entitled for substitution of its name in place of M/s Jaishree Engineering Works for remaining period of leasehold right of M/s Jaishree Engineering Works, without making payment of cost for grant of fresh lease, has also been made in the writ petition.

2. The facts narrated in the writ petition are summarized thus :

The petitioner is a partnership firm which purchased the land comprised in plot nos. 166 and 167, total area measuring 50500 sq. ft. at Tupudana Industrial Area for a total sale consideration of Rs. 6.25 lacs. Initially, the land in question was allotted to one M/s Jaishree Engineering Works by Ranchi Industrial Area Development Authority. M/s Jaishree Engineering Works secured loan of Rs. 2.64 lacs on 22.06.1979 from Bihar State Financial Corporation for setting up an industry for manufacturing of fabrication work.