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2009 (4) TMI 126 - DELHI HIGH COURTChange in Export policy – Contract entered into prior to change – Before 9.5.2006 exports of chrome concentrate/chrome ore were freely permissible – Notification issued dated 9.5.2006 to canalizing the export of chrome concentrate/chrome ore through MMTC - Petitioner submitted that the policy of canalization is ultra vires the provisions of the Foreign Trade (Development and Regulation) Act, 1992. It is submitted that it is also arbitrary and on the principles of promissory estoppel and legitimate expectation that have been accepted by the Courts in the country, the Petitioner is entitled to make the exports in terms of the contracts that it has already entered into – Held that – while refusing to grant interim stay, HC observed that relief prayed for by the Petitioner cannot be granted particularly since it effects the export policy of the Government and the resource sought to be exported is scarce – application dismissed.
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