JUDGMENT :

VINEET SARAN, J.

The petitioner-Rio Tinto Minerals Development Limited is a company incorporated under the Laws of England. It has filed this application with following prayers:

“(a) Admit and allow this writ application; and

(b) Issue a writ of or in the nature of Mandamus or any other appropriate writ, order or direction directing Opp. Party No.2 to grant Malangtoli lease, in terms of the tripartite agreement dated 17.06.2000 annexed as Annexure-8 and Respondent No.1’s letter bearing No. F.No. 5/58/98-M.IV and dated 20.12.2000 annexed as Annexure-10 to opposite party No. 3 in accordance with Section 10A (2) (c) of the amended MMDR Act; and

(c) Issue a writ or in the nature of Prohibition or any other appropriate writ, order or direction restraining Opp. Party No.1, Opp. Party No.2 and Opp. Party No.3 from taking any steps towards grant of Malangtoli lease to any other party other than Opp. Party Nos.3 or 5 for the tripartite project during the pendency of the present Writ Petition; and

(d) Pass such other or further orders as this Hon’ble Court may deem fit and proper in the facts and circumstances of the case.”

2. The factual matrix of the case in hand is that the Government of Odisha-opposite party no.2 by its notification dated 05.06.1962 reserved the Malangtoli block in Sundergarh and Keonjhar area for exploitation in the public sector. National Mineral Development Corporation Limited-opposite party no.4, a Central Government Public Sector Undertaking, applied for grant of mining lease in the Malangtoli block. Accordingly, Government of Odisha, by order dated 05.05.1977, granted mining lease in favour of opposite party no.4 in respect of 5246.03 hectares in Malangtoli subject to the conditions laid down in letter dated 16.04.1977 issued by the Government of Odisha. But opposite party no.4 could not commercially exploit the mines and did not execute the mining lease documents. Consequentially, the Government of Odisha, vide its order dated 31.01.1992, revoked the order of grant of mining lease in favour of opposite party no.4 because of failure to execute the mining lease.

2.1 The Orissa Mining Corporation-opposite party no.3 applied for grant of mining lease of iron ore over 5226.03 hectares in the Malangtoli block for a period of 30 years. Accordingly, the Government of Odisha-opposite party no.2, vide its letter dated 24.10.1998, recommended, for grant of mining lease in the Malangtoli block in favour of Orissa Mining Corporation-opposite party no.3, to the Union of India-opposite party no.1. The recommendation for grant of Malangtoli mining lease in favour of opposite party no.3 was again reiterated by the Government of Odisha vide its letters dated 25.11.1998, 28.05.1999 and 21.07.2000. On 20.12.2000 the Union of India-opposite party no.1 approved grant of Malangtoli lease for the joint venture project between the petitioner and opposite party no.3. Needless to state that in the year 1994-95, the petitioner was successful, out of six multinational companies of international repute in the then recessionary circumstances, to be awarded the project to develop iron ore blocks in the State of Odisha. The proposed joint venture project at the time with opposite party no.3-Odisha Mining Corporation was an integrated project for mine, port and rail development (Project). Malangtoli mining project, including four mining leases, was granted to Odisha Mining Corporation. Therefore, the petitioner and the Odisha Mining Corporation-opposite party no.3 entered into a Joint Venture Agreement on 24.02.1995, which contemplated incorporation of a joint venture company and transfer of leases to the joint venture company. Pursuant to such Joint Venture Agreement (JVA), a joint venture company Rio Tinto Orissa Mining Private Limited-opposite party no.5 was incorporated. The petitioner and opposite party no.3 held 51% and 49% shares respectively in opposite party no.5. Immediately after its incorporation, opposite party no.5 conducted