Section 7 in The Haryana Requisitioning and Acquisition of Movable Property Act, 1975
7. Payment of amount for acquisition of property.
- The amount payable in respect of the movable property acquired shall be the controlled price of the property, that is to say, the price fixed by an order under any law for the time being in force :Provided that, in respect of the property the price of which is not controlled or which is not new, the amount shall not exceed a sum equal to the price which would have been paid for its replacement on the date of the acquisition, reduced by a sum equal to the depreciation of the property, calculated in the manner and at a rate not exceeding thirty per cent per annum as may be prescribed. In arriving at the price which would have been paid for the replacement of the property, no account shall be taken of any appreciation in the value thereof, after the date of requisition :Provided further that the owner of the property or any other person interested therein may, within a period of thirty days from the date of communication of the order of the competent authority, prefer an appeal to the High Court. The High Court may entertain the appeal after the expiry of the said period of thirty days, if it is satisfied that the appellant was prevented by sufficient cause from filing the appeal in time :Provided further that where an agreement has been reached between the competent authority and the owner of the property or any other person interested therein, the amount agreed to shall, irrespective of its quantum, be payable, unless it is revised by the Government after giving to the owner of the property or any other person interested therein a reasonable opportunity of being heard.
