JUDGMENT

DUTT, J. : — Of these three appeals by special leave. we may first of all deal with Civil Appeal No. 3214 of 1979 for, admittedly the disposal of that appeal will virtually mean the disposal of the other two appeals. The said Civil Appeal No. 3214 of 1979 is directed against the judgment of the Delhi High Court whereby the High Court has quashed a circular dated March 8, 1978 issued by the Board of Directors of Caltex Oil Refinery (India) Ltd. (for short CORIL), a Government Company, on the writ petition filed by the employees of CORIL being Writ Petition No. 426 of 1978.

2. The Caltex (Acquisition of Shares of Caltex Refining (India) Ltd, and of the Undertakings in India of Caltex (India) Ltd.) Act 17 of 1977. hereinafter referred to as the Act, was enacted by the Union Parliament and came into force with effect from April 23. 1977. The Act provides for the acquisition of shares of CORIL and for the acquisition and transfer of the right, title and interest of Caltex (India) Ltd. in relation to its Undertakings in India with a view to ensuring co-ordinated distribution and utilisation of petroleum products.

3. Under S. 3 of the Act, the shares in the capital of the CORIL st