Over the years, money had been invested and fixed assets companye into existence when on 12th June, 1975, as already numbericed, the Ordinance was issued as a result of which the water works at Moradabad were taken over by the State Government.
In the meantime on 23rd February, 1987, on an application filed by the appellant, this Court directed the respondents to pay the admitted amount.
This was followed by an order dated 25th March, 1988 when the respondents were directed to pay Rs.
In the aforesaid report of the Special Officer, the amount which was determined to be payable to the appellant was Rs.
9,79,383/ .
It was during the pendency of this appeal that on 26th July, 1988 a Special Officer was appointed who submitted his report on 15th September, 1988.
By order dated 15th January, 1999, M s. K.M. Agarwal Co. were appointed as Chartered Accountants to submit a report.
2,65,419.50p.
3 lakhs, on account, to the appellant and the said amount was paid on 16th April, 1988.
A report has number been submitted by M s. K.M. Agarwal Co. The Chartered Accountants have based the calculations on the basis of the audited balance sheets which were produced before them by the Company and applying the formula companytained in the said Sub section 5 of Section 224 C read with the Table determined, the book value of the assets in respect of which companypensation was payable at a sum of Rs.
By order dated 10th December, 1996, the parties were given leave to file affidavits in support of their respective companytentions with regard to the amount so determined.
On 13th January, 1999, this Court numbered that there was a dispute about the manner of calculation of the amount payable to the appellant under Section 224 C. The Court on 13th January, 1999 proposed to appoint an independent Chartered Accountant for the purposes of calculating the amount payable under the said provision.
The licence for establishing and running the water works was granted to the appellant on 7th March, 1937.
N. Kirpal, J. This is an appeal by special leave against the judgment of the Allahabad High Court who had dismissed the writ petition of the appellant challenging the validity of the Ordinance which was issued on 12th June, 1975, followed by an Act, which had taken over the Moradabad Water Works which were being run by the appellant.
