SACHIN PANDEY Vs. UNION OF INDIA

JUDGEMENT

(1.) Heard Sri Ritesh Verma, learned counsel for the petitioner, Sri S.B. Pandey, Senior Advocate, learned Additional Solicitor General assisted by Sri Varun Pandey for the respondent no. 1 and 2 and Sri Dipak Seth, learned counsel for the respondent no. 3.

(2.) The Government of India formulated a Foreign Trade Policy (FTP) in terms of Section 5 of The Foreign Trade (Development and Regulation) Act, 1992 (FTDR Act) to increase Indian International Trade Market. The main object of formulating FTP is to accelerate Indian business, generate employment and to earn foreign exchange and to monitor and control the imports into and exports out of India under various promotional schemes.

(3.) In order to achieve aforesaid object, FTP for the year 2009 - 14 was formulated to regulate foreign trade during the span of said five years. Chapter 4 of FTP 2009-14 published by the Government of India, in exercise of powers conferred by Section 5 of FTDR Act, provides for duty exemption/remission schemes. While Advance Authorization Scheme (AA Scheme) is an Actual User duty free exemption scheme, the Duty Free Import Authorization (DFIA Scheme) permits transferability of authorization and inputs, post endorsement of transferability after discharge of stipulated export obligation in the authorization issued under the provisions of FTP and Hand Book of Procedures.