Shripal vs Karnataka Neravari Nigam Ltd

The Supreme Court modified the compensation for land acquired under the Land Acquisition Act, 1894, specifically under Section 4(1), determining the market value at Rs. 4,50,000/- per acre for lands acquired in 2007. The Court noted that the respondents had previously agreed to a market value of Rs. 3,69,000/- per acre for similar lands acquired in 2004-2005, and applied a 5% annual escalation. The Court upheld the High Court's decision to deny interest for the delay in filing cross-objections, while allowing the appeals for enhanced compensation.