I am carrying out research privately regarding the subject issue. The following hypothetical case study shall clarify my basic question :

A Hypothetical Case :

A large rural area running into thousands of hectares is included in a Development and Urbanization Plan. The State Govt. appoints private and government developers to develop the area, as is the case generally with SEZs. Within this area there is a small water body e.g. a pond or a lake. Now when the land is acquired and transferred from farmers and Gram Panchayats to the Development Authority or the Industrial Development Authority like Delhi Development Authority or Jaipur Development Authority then will this waterbody be also transferred to the Development Authority or to a Special Purpose Vehicle, specially made for the purpose of Environment & Water Conservation.

The question that is being posed is that Is there any Ruling by the Hon'ble Supreme Court of India or any other High Court prohibiting Development Authorities from enjoying rights over waterbodies or anything of the like.