ORDER

Heard the learned counsel for the petitioner and the learned Government Advocate.

The petition coming on for preliminary hearing is considered for final disposal.

2. The petitioner claims to be a legal entity engaged in the business of purchasing and selling gold and gold ornaments. The petitioner claims to have the necessary licences, permissions, registrations as required under law and has been operating legal business. He pays Income Tax, Value Added Tax, Sales Tax etc., to the Government and it has a staff, who are wholly dependent on its business for their livelihood. It is not in dispute that the petitioner assists persons, who have pledged their gold with pawn brokers and when they fail in redeeming the gold so pledged, the pawn brokers, normally auction the gold. The persons, who have pledged the gold thereby lose their valuable property. The petitioner has devised a scheme where persons, who have pledged the gold approach the petitioner and furnish details of the pledge so made. The petitioner along with the pledgee goes to the pawn broker, redeems the gold and thereafter gives the pledgee an option of either selling the gold to the petitioner or pledging the same with