1. The challenge in this writ petition is directed against the constitutional validity of S.31 of the State Financial Corporations Act, 1951. That Section reads.

"31. Special provisions for enforcement of claims by Financial Corporation.

(1) Where an industrial concern in breach of any agreement makes any default in repayment of any loan or advance or any instalment thereof or in meeting its obligations in relation to any guarantee given by the Corporation or otherwise fails to comply with the terms of its agreement with the Financial Corporation or where the Financial Corporation requires an industrial concern to make immediate repayment of any loan or advance under S.30 and the industrial concern fails to make such repayment then, without prejudice to the provisions of S.29 of this Act and of S.69 of the Transfer of Property Act, 1882, any officer of the Financial Corporation generally or specially authorised by the Board in this behalf may apply to The District Judge within the limits of whose jurisdiction the industrial concern carries on the whole or a substantial part of its business for one or more of the following reliefs, namely:

(a) for an.order for the sale of