HINDUSTHAN DOOR OLIVER LTD Vs. UNION OF INDIA

JUDGEMENT

(1.) THE petitioners had applied for a duplicate Exchange Control copy of the REP licence issued to them as the original was lost either in their office or in their banker's office. The Customs Authorities rejected the said application on the ground that there is no such application on the ground that there is no such provision for issuance of duplicate copy of the freely transferable REP licence. Challenging the said orders passed by the customs Authorities the present petition is filed.

(2.) THE petitioner No. 1 Co. carries on business as Merchant Exporters and are engaged in the export of engineering goods. During the period from July, 1999 to September, 1999 the petitioner No. 1 had exported goods to the tune of Rs. 1,35,61,047/ -. In lieu of the above exports the petitioner No. 1 was issued a transferable REP licence bearing No. P/k-3458300 dated 5-3-1991 entitling the petitioners to import goods of CIF value of Rs. 27,12,200/ -. The said licence was valid upto 4-9-1992. The said licence as per the policy was issued in two counter-parts, one exchange control counter-part and another customs counter-part. The customs copy was required to be presented along with the Bill of entry for obtaining clearance of the imported goods and the exchange control copy was to be presented to the bank for effecting remittances in respect of the goods to be imported. In cases where no remittances of foreign exchange is involved, no exchange control copy of the licence was issued. In the present case, since the import was against foreign remittances, the licence was issued in two counter-parts.

(3.) UNDER the said licence the first petitioner imported goods worth Rs. 37, 205/- in the year 1991 and the balance quantity of goods importable under the said licence was to the extent of Rs. 26,74,995/ -. It is the case of the petitioners that some time in April, 1992, they realised that the exchange control of the licence has been lost either in the office of their bankers or in their own office.