( 1 ) THIS application under Article 226 of the Constitution of india, is filed by certain employees belonging to the category of Assistants in the life Insurance Corporation of India, machilipatnam and Hyderabad Divisions for the issue of an appropriate writ restraining the respondents, viz. , the Life Insurance Corporation authorities from implementing or enforcing the new promotion policy contained in tbe Memo of settlement of promotion procedure applicable to class 3 and 4 employees, dated 15th october, 1971, and to further direct the respondents to promote the petitioners in accordance with the Promotion Rules (Policy) obtaining in the years 1966 to 1971 before upgrading the section heads as Special Assistants and before considering and promoting others in accordance with the aforesaid new policy.

( 2 ) HEVING regard to the several questions raised in the writ petition and for a final and speedy disposal of the case, it was referred to a Division Bench by one of us (Krishna Rao, J.) at the request of counsel on both the sides. After the case was taken up for hearing before the division Bench consisting of Kondaiah and Lakshmaiah, JJ. , the following order was p