T. S. MISRA, J.:- The facts giving rise to this petition are these:- On 29-3-1976 the U.P. Financial Corporation (hereinafter called the Corporation) published in the National Herald newspaper an advertisement, the relevant portion of which is extracted below:-

"We provide with pleasure loans for land, plant and machinery, stamps and registration, consultancy and interest during construction period. Margin money assistance for self-employment of educated persons to the extent of 10% of the total cost of the project, to assist you to meet preliminary and preoperative expenses, working capital margin and margin of fixed capital."

2. The petitioner had obtained a diploma in Mechanical Engineering in First Division in the year 1969. He joined the Irrigation Department of the U.P. State Government as Junior Engineer (Mechanical). After perusing the aforesaid advertisement in the newspaper dated 29-3-1976 the petitioner applied for a loan of Rs.7.18 lakhs to the Corporation for setting up an industry in tools etc. The amount of loan was subsequently reduced to Rs. 4,11,000/-.

Going ahead with his project the petitioner applied on 1-4-1976 for a piece of land to set up his manufact