A.K. Ganguly, C.J.

This appeal has been filed challenging a judgment and order dated 30th April, 2008 passed by a learned Judge of the writ court, whereby the learned Judge dismissed the writ petition.

2. The material facts of the case, which are not in dispute, are as follows:-

The appellant GHCL Limited, the writ petitioner, and also the appellant, is a public limited company registered under the Companies Act, 1956. Sri Meenakshi Mills Limited, hereinafter referred to as the “erstwhile company” was declared a sick company in the year 1996 by BIFR. Thereafter, the said sick company, as per the Rehabilitation Scheme merged with the appellant company. The Scheme of Merger was sanctioned by BIFR and the merger took place w.e.f 01.04.2001.

3. Much prior to that there was an acquisition of land measuring to the extent of 4.72 acres in Thiruparankundram Village, Madurai by the Government of Tamil Nadu in favour of the said erstwhile company on 210. 1957 and thereafter an agreement was entered between the erstwhile company and the Revenue Divisional Officer, Madurai who handed over the possession of the said land to the erstwhile company.

4. Learned counsel for the appel