Judgment

MATHEW, J.:- Respondent No. 1, a company registered under the Companies Act, together with respondents Nos. 2 and 3, members of the company, filed a writ petition before the High Court of Delhi praying for quashing condition No. (ii) specified in the certificate of registration granted to respondent No.1 under Sec. 14B of the Forward Contracts (Regulation) Act, 1952 (hereinafter referred to as the Act ) to the effect that the company shall not commence trading in non-transferable specific delivery contracts in any commodity without obtaining the prior approval of the Forward Markets Commission (hereinafter referred to as the commission ) in writing as also a direction contained in a letter dated June 2, 1964 from the commission to the company not to commence trading in non-transferable specific delivery contracts in any commodity without obtaining the prior approval of the commission in writing.

2. A learned Single Judge of the High Court allowed the writ petition and quashed the condition in the certificate and the direction in the letter. The appellants preferred an appeal against the order before a Division Bench. That was dismissed. This appeal, by certificate, is agai