JUDGMENT

P. R. Ramachandra Menon, C.J. - Following are the important questions to be considered and answered in these writ petitions :

(a) Can the State turn its back on the entrepreneurs (who set up the industries based on the promise as to the concessions to be extended in terms the Industrial Policy for the year 2004-2009) withdrawing the benefits after the expiry of the Policy period and after giving shape to and commencement of a new Industrial Policy for the period 2009-2014; unilaterally re-writing the terms of the expired Policy and the relevant Rules, to deny/curtail the benefits under the former Policy and retract from the promise already made ?

(b) Can the exercise pursued by the State be accepted as 'rectification of mistake', as sought to be projected by them ?

(c) Can such a deviation / correction as to the change in Policy be upheld in respect of the past transactions ?

(d) Is it not hit by the principles of 'Legitimate Expectation' and 'Promissory Estoppel' ?

2. Apart from the question of law, it may be necessary to advert to the sequence of events as well, at least to a limited extent, so as to make a proper analysis and appreciation on the issues involved. This