I.A. Ansari, J.

Case of the writ Petitioners:

1. In the nutshell, the case of the writ petitioners may be stated as follows : -

The writ petitioner No. 1 is a limited Company, incorporated under the Companies Act, 1956, having its registered office at Guwahati, Assam, with the petitioner No. 2 as its Director. In the year 1991, the State Government announced a new Industrial Policy called "Industrial Policy and Incentive Scheme of 1991" and gave certain incentives, in the form of sales tax exemption, to new industrial Unit to be established within the State of Assam after 01.04.1991. This incentive of sales tax exemption was granted, for a period of 7 years, on the sale of finished products as well as on purchase of the raw materials. After enactment of the Assam General Sales Tax Act, 1993 (hereinafter referred to as "the AGST Act, 1993"), the Government of Assam, in exercise of the powers vested in it under Section 9(4) thereof, framed a Scheme named "Assam Industries (Sales Tax Concessions) Scheme, 1995" (hereinafter referred to as "the Scheme of 1995") granting relief of exemption of sales tax, both Central as well as State, for a period of 7 years, to the new industrial U