JAYANTILAL KUBERDAS KATAKIA Vs. UNION OF INDIA

JUDGEMENT

(1.) This Writ Petition has been filed by five petitioners, viz. (1) Jayantilal Kuberdas Katakia, (2) Tryambaklal Kumberdas Katakia, (3) Nagindas Kuberdas Katakia, (4) Mukundrai Kuberdas Katakia, and (5) M/s. Madhu Warp-Knit Industries. The respondents to the Writ Petition are (1) The Union of India through, ths Secretary, Ministry of Foreign Trade, and (2) The State Trading Corporation of India Ltd. through its Chairman.

(2.) Petitioners 1 to 3 started a registered partnership firm, M/s. Madhusudan Gordhandas & Co. (hereinafter referred to as the "main firm"), as a proprietary concern. Between 1955 and 1966, they were doing business as traders, importers and manufacturers of cotton fabrics, woollen fabrics and woollen yarn under the names and styles of the following registered partnerships:

(3.) In 1961, petitioners 1 to 3 started doing business of manufacturing rayon and synthetic fabrics in the name of petitioner 5 firm, i.e. M/s. Madhu Warp-Knit Industries. Petitioner 4 joined the main firm and the other firms in the year 1966. According to the petitioners, between 1959 and 1965, they bad, in the name of the main firm and the other firms and under various Export Promotion Schemes, effected (as merchant-exporters and manufacturer-exporters) exports of the value of over Rs. 1.6 Crores, and raw material requirements were being met out of the consequent import entitlement for which they had obtained various import licences to the tune of about Rs. 59 Lakhs.