Judgment

GUPTA, J. - Ahmedabad Jupiter Spinning Weaving and Manufacturing Company Limited was the owner of 5900 sq. yds. of land forming part of its mill premises at Lower Parel in Bombay which was sought to be acquired by the Maharashtra Government for a municipal school. Notifications under Ss. 4 and 6 were issued on June 19, 1961 and May 29, 1964 respectively. The company filed a writ petition in the Bombay High Court challenging the validity of the notifications on several grounds. A single Judge of the High Court having dismissed the writ petition on August 11, 1969 the company preferred a letters patent appeal. During the pendency of the appeal, the management of the company was taken over by the Central Government on October 8, 1972 under the Industries (Development and Regulation) Act. 1951. On September 21, 1974 an Ordinance called the Sick Textile undertakings (Nationalisation) Ordinance, 1974 was promulgated by virtue of which the textile undertaking of the company the management of which had been taken over by the Central Government, vested absolutely in the Central Government with effect from the "appointed day, which was April 1, 1974, and immediately thereafter stood