K.A. SWAMI C. J.

In these writ petitions and also the writ appeals, the validity of several provisions of the Chit Funds Act, 1982 (hereinafter referred to as "the Act"), is challenged. In the meanwhile, the Supreme Court has considered the validity of the provisions contained in the very Act in Shriram Chits and Investments (P.) Ltd. v. Union of India, and held that all the provisions of the Act are valid. Therefore, these writ petitions and the writ appeals are liable to be dismissed in the light of the pronouncement made by the Supreme Court. However, an argument is advanced before us that the validity of section 6(3) of the Act has not been specifically considered and, therefore, the same be considered in these cases. We may only refer to paragraphs 29 and 30 of the judgment of the Supreme Court in Shriram Chits and Investments (P.) Ltd.'s case to meet this contention. Paragraphs 29 and 30 of the judgment of the Supreme Court read as follows :

"Section 6(3) of the Act reads thus :

6(3). The amount of discount referred to in clause (f) of sub-section (1) shall not exceed thirty per cent. of the chit amount.

It was submitted that the ceiling of the discount is highly arb