Judgment

MUKHERJEA, J. :- This appeal by special leave from a judgment and order of the Delhi High Court arises out of a petition under Articles 226 and 227 of the Constitution of India made by Keshav Mills Company Limited (hereinafter referred to as the Company) and Navin Chandra Chandulal Parekh who is a share-holder and a Director of the Company challenging the validity of an order dated 24 November 1970 passed by the Government of India under Sec. 18A of the Industries (Development and Regulation) Act, 1951 (65 of 1951) (hereinafter referred to as the Act) by which the Gujarat State Textile Corporation Ltd. has been appointed the authorised controller of the Company for a period of five years. The Delhi High Court dismissed the writ petition after hearing the parties and hence this appeal. The facts and circumstances leading to the filing of the petition are briefly stated as follows.

2. The Company is the owner of Cotton textile mill at Petlad known as Keshav Mills. The Company was established in 1934 and, as far as one can judge from the facts and figures cited in the petition, the Company made flourishing business between the years 1935 and 1965. Indeed, if the appellants fig