VIRAJ IMPEX PVT. LTD. Vs. UNION OF INDIA

JUDGEMENT

(1.) Leave granted.

(2.) These appeals arise from Common Order and Judgment dtd. 21/12/2018 passed by the High Court of Delhi, in a batch of writ petitions, whereby the writ petitions filed by the appellants were dismissed. By the aforesaid order and judgment, the High Court dismissed the challenge laid by the appellants to a Notification issued by the Central Government imposing a Minimum Import Price on certain steel products. The controversy lies in narrow compass and turns primarily on the interpretation of the expression 'date of this Notification' occurring in para 2 of Notification No.38/2015-2020 (Notification), issued under the Foreign Trade (Development and Regulation) Act, 1992 (Act).

(3.) The appellants are private limited companies incorporated under the Companies Act, 1956 and are engaged in the import and trading of mild steel items such as Hot Rolled Coils, Cold Rolled Coils, Hot Rolled Steel Plates and Pre Painted Steel Coils etc. Admittedly, prior to February, 2016, the said items were freely importable and fell under Chapter -72 of the Indian Trade Clarification (Harmonized System), 2012 (hereinafter, referred to as 'ITC-HS'), Schedule-I of the Foreign Trade Policy, 2015-2020 (FTP).