M.L.Singhal, J.

1. Through this writ petition filed under Articles 226/227 of the Constitution of India, the Punjab State Cooperative Bank Limited (A Scheduled Bank) - petitioner has prayed for the issuance of writ in the nature of mandamus for quashing the proceedings initiated on the basis of notice dated 29.7.1997 and for issuance of a direction to respondent No. 2 - Estate Officer. UT Administration, Chandigarh to accept a lease deed executed in its favour of behalf of the petitioner bank in respect of plot measuring 2430.39 sq. yards in Sector 34 Chandigarh on a paper without stamp duty under the Indian Stamp Act, 1899. It is stated that the petitioner bank was allotted site measuring 2430.39 sq. yards in Sector 34, Chandigarh on lease hold basis for 99 years vide allotment letter dated 19.7.1991 at the rate of Rs. 15,515/- per square yard. The total premium is Rs. 3,77,07,656/-. At the time of allotment, petitioner bank had duly paid Rs. 94,26,911/- being 25% of the total premium. The remaining amount was to be paid in instalments. According to Clause 12 of the allotment letter, petitioner bank was required to execute lease deed in favour of respondents. The lease dee