JUDGMENT :

A.C. Gupta, J. - I was unable to share the view taken by the majority in disposing of these writ petitions on September 2, 1981 that "neither the Special Bearer Bonds (Immunities and Exemptions) ordinance, 1981 nor the Special Bearer Bonds (Immunities and Exemptions) Act, 1981 is violative of Art. 14 of the Constitution", and I made the following order on the same day:-

"I have come to the conclusion that the Special Bearer Bonds (Immunities and Exemptions) ordinance, 1981 and the Special Bearer Bonds (Immunities and Exemptions) Act, 1981 violate Art. 14 of the Constitution and are there- fore invalid. I would allow the writ petitions with costs.

I shall give my reasons later."

Here briefly are my reasons.

2. These five writ petitions question the constitutional validity of the Special Bearer Bonds (Immunities and Exemptions) ordinance, 1981 and Special Bearer Bonds (Immunities and Exemptions) Act, 1981. The ordinance which was promulgated by the President on January 1 2, 1981 was repealed and replaced by the Act. The Act received the President's assent on March 27. 1981. Section I (3) of the Act says that it shall be deemed to have come into force on January 12, 1981. The