Home Case Index All Cases Customs Customs + HC Customs - 2016 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (8) TMI 143 - DELHI HIGH COURTFailure to fulfill export obligation - EPCG scheme - The petitioner seeks a review of the aforesaid judgment on the ground that the exports obligation was met in terms of Deutsche Mark (DM) and its rupee equivalent ought to have been adjusted against the export obligation mentioned in rupee terms. - Held that:- If only the Rupee specified amount is met, it would result in reduction in quantum of foreign currency (US$) and would provide an unintended relief to the petitioner. Such interpretation of the EPCG Scheme would defeat its very objective, which was to earn more foreign exchange/convertible currency for the Indian economy. Hence, the petitioner cannot seek to circumvent the export obligation by bringing in lesser foreign exchange. It is also not known whether at the relevant time Deutsche Mark was kept in the basket of freely convertible currency, by Government of India. No apparent error in the order is shown. - Decided against the petitioner.
|