1. A large track of land in the village Manakunnam in the district of Cochin was sought to be acquired for setting up a bottling plant by the respondent - Indian Oil Corporation Ltd. A notification under S.4 of the Land Acquisition Act (hereinafter referred to as the 'Act') was issued on 23rd August, 1990 which was followed by issue of notification under S.6 of the Act on 22nd February, 1991. The appellants' land measuring 7.13 acres is covered by the aforesaid notifications. The Collector on 5th May, 1992 gave an award and offered compensation to the claimants @ Rs. 1,225 per Are, Rs. 500 per cent. The claimants sought reference for enhancement of the compensation. The Additional Sub Judge, Ernakulam enhanced the compensation to @ Rs. 7,000 per cent. Aggrieved, the respondents filed appeals before the High Court. The High Court was of the view that the compensation awarded by the reference court was on higher side and, therefore, reduced the compensation to @ Rs. 4,000/- per cent for the wet land and Rs. 6,500 for dry land. In that view of the matter, the appeals filed by the respondents were allowed. The cross-objections filed by the claimants were rejected by the Hig