UNION OF INDIA Vs. RAJENDRA ENTERPRISES

JUDGEMENT

(1.) All these writ appeals are preferred against the common order dated 22.12.1993 (printed at page 151 infra) passed by the learned single Judge in W.P. Nos. 17894, 18294, 18295 and 18382 of 1992 respectively. Learned single Judge has allowed the writ petitions and issued the following directions:

(2.) The question for consideration, merely because on an earlier occasion these petitioners had produced certain exim scrips, the genuineness of which is under investigation, and obtained payments, the payments as against the genuine exim scrips can be withheld. Investigation, according to learned Counsel for the appellants, has been going on since July, 1992. Even to this, day, the appellants are not in a position to claim that the exim scrips which were produced by the petitioners in the past and which are now [under] investigation, were bogus ones. It can be stated only after investigation is completed, as to whether those exim scrips were bogus or genuine. In the event they are found to be bogus, it shall have to be determined whether the writ petitioners herein are liable for the amounts. As the matter is under investigation, the interests of the appellants can very well be safeguarded if each of the petitioners is directed to furnish adequate security of immovable property having clear and marketable title to the satisfaction of the second appellant. It is not disputed that on furnishing of security in the aforesaid terms, the interests of the appellants and also of the Revenue would be sufficiently safeguarded. At the same time, we are also of the view that, when the petitioners are entitled to the payment as against the present exim scrips which are accepted to be genuine and valid, the payments cannot at all be directed to be withheld, nor can it be withheld by the appellants. Therefore, we are of the view that safeguarding the interest of the appellants, the amounts payable under the present exim scrips can very well be directed to be paid. Accordingly, we dispose of the writ appeals in the following terms:

(3.) If the petitioners as detailed below, furnish adequate security of immovable property having clear and marketable title or bank guarantee whichever is convenient to the writ petitioners, to the satisfaction of the second appellant (Joint Chief Controller of Imports and Exports, Madras) the appellants shall on accepting such security, pay the amounts payable on the present exim scrips. <TAB> W.P. No. Security of immovable Appellants shall pay property for pay to petitioners 17894/92 Rs. 12,58,200 Rs. 19,47,315 18294/92 Rs. 13,68,900 Rs. 15,94,400 18295/92 Rs. 10,44,900 Rs. 35,000 18382/92 Rs. 14,11,200 Rs. 8,83,400</TAB>