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2014 (10) TMI 818 - HC - VAT and Sales TaxDenial of Foreign Trade Policy called Focus Market Scheme - Held that:- Rule 7(f) enables the Director either to refuse or to grant renewal of licence if the applicant is a Managing Partner in a partnership firm or Director of a private limited company having controlling interest over it. Nowhere it is stated, any benefit accrued to the petitioner company or similarly situated applicant would be denied for the reason that for the partnership firm or private limited company in which applicant having controlling interest has liability towards Export Promotion of Capital Goods Scheme. It is to be noted that the petitioners are public limited company and totally different entity, cannot be equated with an individual who may have controlling interest in a partnership firm either as a Managing Partner or as a Director of private limited company. Therefore, I am of the view that the denial of benefit accrued to the petitioner based on this scheme is unsustainable. - Decided in favour of assessee.
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