Supreme Court: Concluded Land Compensation Agreement is Final, Bars Interest Claim
The Supreme Court held that a concluded compensation agreement voluntarily entered into under Section 7 of the Tamil Nadu Acquisition of Land for Industrial Purposes Act, 1997, is a final and binding contract. Such an agreement precludes parties from subsequently invoking statutory provisions, like Section 12 for interest, as the contract subsumes all related claims and disputes.
Facts Of The Case:
The case involved the acquisition of lands in Coimbatore District, initially leased to the Defence Department in 1942, for the expansion of Coimbatore Airport runway. Proceedings under the Tamil Nadu Acquisition of Land for Industrial Purposes Act, 1997 were initiated in 2011. In 2018, a meeting was convened under Section 7(2) of the Act between authorities and landowners, resulting in a...