KRISHNA PETRO YARNS LIMITED Vs. UNION OF INDIA

JUDGEMENT

(1.) THIS group of 36 writ petitions involve a common question as regards interpretation and scope of section 61 (2) of the Customs Act, 1962 (for brevity `act ). All these petitions were notified on board under the caption "matters for Interest on Duty DEEC Scheme". We heard Counsel for the parties in all these petitions.

(2.) THE question involved in these writ petitions is as under :

(3.) THE 1st petitioner is a Public Limited Company incorporated under the Companies Act, 1956. The 2nd petitioner is the Senior Accountant of the 1st petitioner and also a share-holder. Petitioner-Company is engaged in the business as Importers, Exporters and Manufacturers. They are having their factory at the address shown in the title of the petition. The 1st respondent is the Union of India. 2nd and 3rd respondents are Assistant Collectors in the Customs Department at Bombay.