SAWHNEY EXPORT HOUSE Vs. UNION OF INDIA

JUDGEMENT

(1.) THIS is a writ petition seeking a direction to the Respondents to disburse the 45 per cent premium in lieu of the replenishment licences (REP) and to release the Cash Compensatory Support (CCS) against export documents received by them. The Petitioner also seeks compensation for non-release of the incentives in terms of the prevalent import-export policy consequent upon which the Petitioner alleges that he suffered in his export business.

(2.) THE Petitioner Sawhney Export House is a partnership firm engaged in the business of ready-garments and handicrafts. Shri T.S. Sawhney who appears in person and argued this petition, is the Power of Attorney Holder of the Petitioner.

(3.) THE Petitioner has in para 8 of the petition listed out the applications submitted (along with the reference numbers and dates) for grant of REP licence (also known as Exim scrips). According to the Petitioner, the total value of the exports against which it was seeking REP licences was Rs. 59,96,911/-. It is stated that when the exim scrips were introduced in July 1991, the premium was around 45 per cent. This was factored by the exporters in fixing their export prices. On 16th March 1992 the Reserve Bank of India (RBI) announced its decision to purchase exim scrips at a premium of 20 per cent. The lowering of the premium was largely on account of the fact that a large number of import items were placed in the open general licence list. The other problem faced by the exporters was that there was a considerable time gap in the licencing authorities issuing exim scrips/REP licences. The exporters were required to submit the applications to the licencing authorities by 31st May 1992. It was urged by the exporters that this period should be extended up to 31st October 1992.