A. S. Oka, J.

The issues which arise in these two Petitions are more or less identical and hence, the same are taken up for hearing together. In both the Petitions under Article 226 of the Constitution of India, there is a challenge to the provisions of the Mumbai Metropolitan Region Specified Commodities Markets (Regulation of Location) (Enactment of bye-laws with retrospective effect to provide for levy and collection of the Registration Fee and Market Fee and Validation and Continuance) Act, 1997 (for short "the Validating Act").

2. The petitioner in Writ Petition No. 1650 of 1997 is the Steel Authority of India which is a Government of India Enterprise. The petitioner in Writ Petition No. 1632 of 1997 is a Company registered under the Companies Act, 1956. The first respondent has been constituted under the provisions of Bombay Metropolitan Region Specified Commodities Market (Regulation of Location) Act, 1983 (for short "the said Act of 1983"). The first respondent Market Committee is constituted under sub-section (1) of Section 8 of the said Act of 1983. Under Sect