S.S.SANDHAWALIA, J.

1. The purpose, nature and scope of the power to grant anticipatory bail rested in the higher echelons of the judiciary by Section 438 of the Code of Criminal Procedure has been the subject-matter of debate before the Full Bench in these two petitions for bail which are before us on a reference.

2. On the 26th of August, 1977, Shri Gurbachan Singh Behniwal, I.P.S., Superintendent of Police, Vigilance Squad, forwarded a special report to the Police Station, Civil Lines, Ludhiana, on the basis of which a case under S. 5 (1) (d) and (e) read with S. 5 (2) of the Prevention of Corruption Act and Ss. 406, 409, 477-A and 120-B of the Indian Penal Code, was registered. In the said report, it was alleged inter alia that Shri Zail Singh, former Chief Minister of the Congress Government in Punjab along with some members of his Council of Ministers, some office-bearers of the Punjab Pradesh Congress Committee, some appointees to high public offices and senior ranking Government officials had conspired to collect huge funds for the holding of the Congress Party Session at Mattaur near Chandigarh and to personally amass wealth by abuse of authority and misuse of powe