Interim relief in constitutional challenge to LIC public issue amendments refused after balance of convenience and progress of offer were weighed.

Interim relief in a constitutional challenge to amendments affecting the LIC public issue was assessed under the settled tests of prima facie case, balance of convenience, and irreparable injury. Although the constitutional question was pending before a larger Bench, the Court took into account the scale of the public issue, the large number of applicants, oversubscription, and the substantial progress already made in the offer. On those facts, preserving the status quo was not warranted, and interim protection was declined.

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Issues: Whether interim relief should be granted in proceedings challenging the constitutional validity of amendments affecting the LIC public issue.

Analysis: Interim relief was considered on the settled tests of prima facie case, balance of convenience, and irreparable injury. The challenge raised a constitutional question pending consideration before a larger Bench, but the Court noted the scale of the public issue, the large number of applicants, oversubscription, and the fact that the offer had progressed substantially. On those facts, the Court found that the request to preserve the status quo could not be accepted.

Conclusion: No case for interim relief was made out and the request for interim protection was declined.

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