The rule of law is different from the rule of an individual, and is supposed to be essential for the development of any economy, and for peace, harmony and order in society. It connotes the supremacy of law, equality and predominance of legal spirit. However, unfortunately, it has been observed that blind dependence on the rule of law tends to make any society lose its touch with plain common sense, which may result in undesirable consequences. Also, ignoring the basic principles of the rule of law for the benefit of powerful persons in the society creates confusion and chaos, and often the common people suffer. There needs to be a fine balance, which has to be achieved by a concerted effort by the legislature, executive and the judiciary.