(A) Precedent - Binding nature - It is only 'ratio decidendi' of judgment which constitutes binding precedent - 'Obiter dicta' of judge or decisions rendered 'per incuriam' do not constitute binding precedents - Similarly, decisions rendered 'sub silentio' are also not binding precedents. It is not that the whole judgment and all observations and findings therein are to be taken as binding precedent by a subsequent co-ordinate bench. It is only the 'ratio decidendi' of the judgment which constitutes a binding precedent. 'Obiter dicta' of a Judge has also no precedential value. It is only a considered enunciation of law by the Judge on points arising or raised in the case directly which has a precedential value, and not the unnecessary statements or opinion, out of context, made beyond the occasion, unnecessary for the purpose at hand or made by way of passing remark. Hence, judgment rendered in a fact situation applying the law holding the field at that point of time, or an obiter dictum therein, has no precedential value; it is only enunciation of law in rem, on issues directly raised or arising, dehors of the application of law to the facts of the case, a 'ratio decidendi' which alone is treated as, binding precedent. Decisions rendered 'per incuriam' also fall outside the category of binding precedent. Hence decision, contrar....