N. Seshasayee, J.

1. The facts on which the petitioners have rested their cause for their current action may be stated:

The first petitioner is a company registered under the Companies Act. The first petitioner company owned a block of land measuring 3.75 acres in Survey Nos. 261-B/2A1 pt. and 261-B/2A2B2A pt of Vandalur Village, Kancheepuram District. The second petitioner, who is the widow of the Founder-Chairman of the first petitioner owns another block of land measuring 1.34 acres in Survey Nos. 261-B/2A2A1 pt. and 261-B/2A2B1A pt. Both these properties lie adjacent to each other. The second petitioner has leased her 1.34 acres of land to the first petitioner company. In other words, the first petitioner is in possession of 5.09 acres of industrial lands. The first petitioner has established an industrial unit in the said property.

Since 1993-1994, petitioners ran into difficult times, when their properties were repeatedly targeted for acquisition. In 1993-1994, the Government had acquired 24,000 sq. ft. for the Highways Department, part of which it was not able to utilise for about 20 years. In May 1998, Government had acquired another 11,985 sq. ft., this time for the Ra