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Parasrampuria Sunthetics Ltd. Versus Union Of India And Another

2016 (8) TMI 143 - DELHI HIGH COURT

Failure 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 .....

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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 .....

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3 - Dated:- 15-7-2016 - MR. S. RAVINDRA BHAT MR. NAJMI WAZIRI JJ. Petitioner Through: Mr. Sh. Chinmoy Sharma and Sh. Ashish Rana, Advocates. NAJMI WAZIRI, 1. This petition seeks a review of the judgment dated 10.10. .....

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xport goods worth three times the CIF value of the licence/imported goods. The export obligation was specifically mentioned in US dollars i.e. US$ 11,600,459. Therefore, the undertaking and intention was clear: that the petitioner was to fulfil the e .....

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eely convertible currency was specifically mentioned as US $, therefore even if the rupee value of the export obligation was indicated in the licence, the equivalent value in dollar had to be met. 3. The petitioner seeks a review of the a .....

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use, firstly the petitioner is seeking to set up entirely a new case and secondly, the export obligation being specifically mentioned in US$, ought to have been met accordingly. However, even if the undertaken obligation was discharged in DM, the equ .....

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