( 1 ) PETITIONER No. 1 (hereafter referred as petitioner Company) is a company incorporated under the Companies Act and petitioner No. 2, V. K. Khanna, is one of its Directors. Respondent No. 1, M. P. Housing Board, is a body corporate, which has been established under Section 3 of the M. P. Griha Nirman Mandal Adhiniyam, 1972 (hereafter referred as the 'adhiniyam') The M. P. Housing Board has constructed a six storey building on the Agra Bombay road at Indore. This building was given by the Housing Board to the petitioner company for running a hotel, known as 'suhag Hotel' therein, on the terms and conditions contained in the agreement (Annexure-A) dated 9-1-1978.

( 2 ) DURING the occupation by the petitioner-Company of this building as a licensee, contravention of the terms and conditions of the aforesaid agreement (Annexure-A), particularly those relating to payment of the licence fee was alleged by the Housing Board and not denied by the petitioner-Company. Accordingly, a notice (Annexure R-3) dated 5-4-1982 was given by the competent authority as required by Sub-section (2) of Section 55 of the Adhiniyam, to the petitioner-company requiring it to show cause why