PRASHANT CORPORATION Vs. UNION OF INDIA

JUDGEMENT

(1.) THIS petition is directed against the public notices bearing Nos. 225 I. T. C. (P. N.)/1985-88, dated 6th November 1987 and 235 I. T. C. (P. N.)/1985-88, dated 11th December, 1987 and also seeking declaration that the said notices are illegal, unlawful, unconstitutional and violative of Articles 14-19 (1) (g) and 300a of the Constitution of India. The petitioners have also prayed that the show cause notice (Exh. 1) based on the said public notices together with consequential action be quashed and set aside.

(2.) THE petitioners are also claiming higher percentage of entitlement of the replenishment licence as a consequence of compliance with the export obligation more than the percentage attached of the Imprest Licence which was issued to them and also raised an issue as to the quantification of the value of export obligation which was required to be discharged by the petitioners putting their own interpretation on the Public Notice No. 235 I. T. C. (P. N.)/85-88, dated 11th December 1987. Facts :

(3.) THE facts giving rise to the present petition are as under : The petitioners are exporters and importers inter alia carry on business of importing rough diamonds and exporting cut and polished diamonds in terms of the Import and Export Policy framed by the respondents from time to time.