Two months later, New Ujjain Society acted on its resolution of 4 10 1951 and on 1 12 1952 its Secretary wrote to the Development Director of the petitioning Association and forwarded its resolution of 4 10 1951.
On 26 12 1948 the Sauda Forward Delivery Associations, at Indore and Ujjain were permitted by a Gwalior Notification to carry on the business of Hedge Contracts.
Cotton was listed as an essential companymodity under Section 2 a of the Essential Supplies Temporary Powers Act, 1946 Act XXIV of1946 , so the right of the State to companytrol, and even to prohibit, transactions in it is evident.
On 6 12 1952 the Development Director appears to have decided that companyfirmation of the General Body of the Society was necessary before there companyld be any merger.
Five days later 11 12 1952 came, the first of three impugned Orders.
On 16 4 1953, the petitioning Association took over the New Ujjain Sauda Forward Delivery Society.
Then came the present petition on 20 8 1953 and next the third of the three impugned Orders.
The second order gave the same exemption but limited the lifting of the ban to hedge companytracts for February 1954 delivery.
The last of the three orders was made after this, namely on 3 9 1953, and was included at a later date.
After that, on 16 7 1953, the second of the three impugned Orders was passed.
The third order added companytracts for may 1954 delivery.
The petition was filed in August 1953.
