Judgement

JAGANNATHA SHETTY, J.:- This appeal by special leave is by the Registrar of Firms, Societies and Chits of the State of Uttar Pradesh and directed against the judgment and order passed by the High Court of Allahabad in Writ Petn. No. 630 of 1982 (reported in AIR 1984 All 28).

2. The said writ petition was filed by the respondent which is a partnership firm called as "M/s. Secured Investment Company" ("The Company"). The company mainly carries on business at Lucknow. It has branch offices at Kanpur and Bareilly. The nature of business of the company is termed as "a scheme for investment". The question raised in this appeal is whether that scheme for investment falls within the category of prize chit as defined under the "Prize Chits and Money Circulation Scheme (Banning) Act, 1978 (for short "the Act") The Registrar of Firms, Societies and Chits was of the opinion that the scheme of the company falls within the prohibited category of prize chits as defined under the Act. So he seized all the documents of the company and also directed the concerned banks not to have accounts in relation thereto. Challenging the action of the Registrar, the company moved the High Court with a w