( 1 ) THIS is a petition under Arts. 226/227 of the Constitution of India.

( 2 ) THE material facts giving rise to this petition, briefly, are as follows : (I) The petitioner is a Co-operative Society registered under the M. P. Co-operative Societies Act, 1960. Respondent 1 is a Town and Country Development Authority (hereinafter referred to as "the Authority"), duly constituted under the provisions of S. 38 of the M. P. Nagar Tatha Gram Nivesh Adhiniyam, 1973 (hereinafter referred to as "the Act" ). The Act came into force on 16-3 1973. The Authority was constituted on 13-5-1977. Prior to that date, the Indore Improvement Trust (hereinafter referred to as "the Improvement Trust") was in existence and was constituted under the provisions of the M. P. Town Improvement Trust Act, 1961 (hereinafter referred to as "the Improvement Trust Act" ). (ii) The petitioner is the owner and Bhumiswami of certain parcels of land situated in village Tejpur Garbari and Pipliaroa in Tehsil Indore. This land was included in a housing accommodation scheme known as Scheme No. 59, framed by the Improvement Trust by its resolution dt. 25-11-1964. Before the scheme was sent to the State Government for sanction, as required by S. 50 of the Improvement Trust Act, a development plan, known as "the Master Plan" for the city of Indore, was framed by the Director, Town and Country Planning, under the provisions of the Act. Under that plan, the area comprised in the aforesaid Scheme No. 59, was shown as an area reserved for a purpose different from that for which Scheme No. 59 had been prepared. The Improvement Trust was, however, of the view that the Change in the purpose of the scheme did not affect the validity of Scheme No. 59 framed by the Trust and the said scheme was, therefore, sent to the State Government for according its sanction under S. 51 of the Improvement Trust Act. By the notification published in the Government Gazette dt. 8th April 1977, the State Government accorded its sanction to Scheme No. 59. Thereafter, the Authority was constituted under the Act on 13-5-1977. After the establishment of the Authority, the Indore Improvement Trust stood dissolved and an improvement scheme prepared under the Improvement Trust Act, in so far as it was not inconsistent with the provisions of the Act, was to be deemed to be a scheme prepared under the Act, by virtue of S. 87 (c) (ii) of the Act. Accordingly a notice under S. 50 (7) of the Act was published on 11-11-1977 specifying that the Scheme No. 59 would come into operation from the date of its publication. Aggrieved by that scheme, the petitioner preferred a revision petition under S. 51 of the Act before the Director, Town and Country Planning. By his order dt. 13th July 1983, the Director allowed the revision petition and set aside Scheme No. 59 in so far as it related to the land of the petitioner. (iii) Aggrieved by the order passed by the Director, the Authority preferred a petition under Arts. 226 and 227 of the Constitution before this Court. A Division Bench of this Court, by order dt. 7-4-1984, held that no case was made out for interference with the order passed by the Director. The Division Bench, therefore, dismissed the petition filed by the Authority. (iv) In the meantime, the State Government had proceeded to acquire land comprised in Scheme No. 59 including the land of the petitioner, under the provisions of the Land Acquisition Act, 1894, and issued a notification published in the Government Gazette dt. 30th Dec. 1983. The petitioner, through its counsel, brought it to the notice of the Land Acquisition Officer by the letter dt. 9-8-1984 that the land of the petitioner was released by the Director from the purview of Scheme No. 59 and that the decision of the Director was not set aside by the High Court in the petition preferred by the Authority. As the Land Acquisition Officer did not consider the objections preferred by the petitioner, the petitioner made a representat