TMI Blog1993 (12) TMI 62X X X X Extracts X X X X X X X X Extracts X X X X ..... everal circulars to simplify verification procedures and a number of branches of the State Bank of India were authorised to purchase the `Exim Scrip'/REP Licence to facilitate easy negotiation of such `Exim Scrip'. The exporters should file their claim for `Exim Scrip' in respect of their exports for which foreign exchange had been released. The applications were disposed of, on what is called "fast track basis". Under the terms of Paragraph 199 Import-Export Policy for the year 1990-93 such `Exim Scrip'/REP Licence are transferable. Such transfers are not required to be endorsed by the Licensing Authority and the transfer is governed by principles of ordinary law. 2.If we now turn to the facts of each case, the petitioner in W.P. No. 178 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me to the Bank and obtained the premium amount of Rs. 12,58,000/-. Though the Exim Scrips on the basis of which the petitioner demanded Rs. 19,47,315/- has not been cancelled and their genuineness is not doubted, the third respondent refused to make payment, apparently, on the basis of the last of the directions quoted above. The writ petition is only for the issue of a writ of mandamus to direct the third respondent to make payments as the subsequent genuine Exim Scrips to the tune of Rs. 19,47,315/-. 3.In W.P. No. 18294 of 1992 the petitioner had secured certain Exim Scrips originally issued to one M/s. Trimex Agencies Private Limited, Pondicherry, and tendered the same for payment to the State Bank of India, Pondicherry, on 28-7-1992. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ine exim scrips are being refused on the basis of clause 3 referred to above. 6.In all these writ petitions we are only concerned with the question whether the respondents can prohibit the payment in respect of the genuine exim scrips on the ground that the petitioners had received payment in respect of the exim scrips issued to M/s. Trimex Agencies and M/s. Aisha Exports Private Limited which exim scrips had been cancelled on the ground of fraud. Unfortunately, even though the petitioners have not prayed for any relief in respect of the demand by the respective Banks to refund the amounts already paid to the petitioners under the bogus exim scrips, the petitioners have obtained interim orders staying the demand for refund of the respecti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce circular and debarment circular passed against those companies who are alleged to have committed the fraud of filing forged documents to get exim scrips shows that the said companies and its Proprietors have been debarred from getting any import licence, Customs Clearance permit, allotment of imported goods etc. But the respondents are unable to show, as to how this action will prevent the bona fide purchasers who had obtained payment of premium by negotiating exim scrips issued to genuine exporters. In other words, the respondents may have a case for recovering the amounts paid on the basis of exim scrips issued to those defaulting agencies. The claim of the petitioners that they were bona fide purchasers and therefore, payments to them ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pect of bogus exim scrips. The form says that the claimants bind themselves for refund of the amount and empower the Bank to stop payment of the cheque if there is any difficulty in the exim scrips. Even this declaration by the petitioners would not, in my opinion, enable them to seek adjustment in respect of claims made under subsequent exim scrips about which there is no doubt or allegation of fraud. I do not think that it is necessary for me to go into the other detailed arguments made by the learned counsel for the petitioners because the respondents have not been in a position to point out any provision of law under which they can refuse payment in respect of a claim under a bona fide exim scrips. In other words, Clause 3 of the direct ..... X X X X Extracts X X X X X X X X Extracts X X X X
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