( 1. ) THE non-applicant-Company takes building contracts. It entered into a contract with the applicant-Hindustan Steel Limited for construction of 624 units of single-roomed quarters in the Second and Fourth Sector in bhilainagar. On 20-9-1962 the work was completed. On 10-7-1963 the measurements taken by the Hindustan Steel Limited were accepted by the representative of the non-applicant-Company and on the basis of the said measurements the bills were prepared and payments were made in final discharge of the contract. On 18-10-1963 the partner of the non-applicant-Company made the following endorsement:

"certified that the final bill, measurements and recoveries thereon are accepted in full and final settlement of this contract. Further it is certified that we have no other claims whatsoever in respect of this work after payment of this Hand Receipt "

The actual payment of Rs. 1,95,580 was made on 22-10-1963. These facts are not disputed. It appears that under the contract the contractor-Company was required to make miscellaneous deposits and was also required to deposit certain amount towards royalty for the material removed from Government quarries. These deposits were