A division bench of the court comprising justices Deepak Gupta and Kuldeep Singh also issued notice to the government.
The court asked the state government to maintain "status quo" in respect of the land lease.
The Cabinet had cancelled the lease of 98 acre of land at Sadhupul near Kandaghat in Solan district on February 19 following which revenue officials had taken possession of the land along with buildings and other infrastructure.
The government had maintained that the land was given to Patanjali Yogapeeth by the then BJP government in 2010 in violation of statutory provisions of law and also thwarted the plans of the Patanjali Peth Trust to inaugurate the first phase of the mega project today.
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Challenging the action of the government, Patanjali Yogapeeth moved the high court, alleging that the decision of the government was illegal, arbitrary and violation of cannons of natural justice.
The land originally belonged to the erstwhile royal family of Patiala in 1956 and former Punjab Chief Minister Amarinder Singh, a scion of the Royal family had also objected to the decision of the government, maintaining that the land was donated for a specific purpose and its land use cannot be changed.
The BJP gave the land to the yoga guru in 2010 for a one-time lease payment of Rs.17 lakh for 99 years at a token annual fee of Re 1.