RAJENDRA ENTERPRISES Vs. UNION OF INDIA

JUDGEMENT

(1.) THE Order of the Court is as follows : -

(2.) IF we now turn to the facts of each case, the petitioner in W.P. No. 17894 of 1992 had secured 'Exim Scrip' issued originally in favour of M/s. Aisha Exports Private Ltd. for a sum of Rs. 62, 91, 000/ -. The premium at 20% on the above Exim Scrip worked out to Rs. 12, 58, 000/ -. The petitioner tendered the above 'scrips' to the State Bank of India on 6 -4 -1992 and the Bank issued a token in receipt of the Exim Scrip. After verifying the genuineness of the Exim Scrips the premium amount was paid to the petitioner. The petitioner had also tendered certain other Exim Scrips purchased from other parties, details of which are given in the writ petition and requested the third respondent to pay the premium amount. The premium amount comes to Rs. 19, 47, 315/ -. It transpires that the Exim Scrips purchased by M/s. Aisha Exports Private Limited were found to be bogus and therefore, action was taken against the said M/s. Aisha Exports Private Limited. Consequently, the second respondent cancelled all Exim Scrips issued to the said M/s. Aisha Exports and gave the following directions to the State Bank of India : -

(3.) IN W.P. No. 18295 of 1992 the petitioner had obtained payment of the premium amount of Rs. 10, 44, 900/ - in respect of certain exim scrips purchased from M/s. Trimex Agencies Private Limited. In respect of the subsequent surrender of exim scrips from a genuine owner the petitioner seeks payment of Rs. 35, 800/ - from the third respondent since the same is being refused under the very same clause, referred to above.