(1.) This writ application has been referred to this Bench by a learned Single Judge of this Court. This question involved in this writ application is the scope and effect of a circular being Circular No. 19/92-97 dated 17th December, 1992 issued by the respondent authorities. The petitioners challenged the said circular as well as the refusal on the part of the respondent authorities to release raw silk imported by the petitioners under REP Licences/Exim Scrips.
(2.) It is the case of the petitioners that under the Import and Export Policy 1990-93 raw silk was allowed to be imported under REP Licences/Exim Scrips by virtue of paragraph 192 of Chapter XV of the Import and Export Policy. That paragraph declared that REP Licences/Exim Scrips are also valid for import of any other items of raw materials, components, tools, consumables and packing materials listed in Appendices 3 and 5, Part A. It is not in dispute that raw silk was included in Appendix 5, Part A of the Import and Export Policy 1990-93.
(3.) On 1st April, 1992, a new Import Policy being the Export and Import Policy 1992-97 came into force. Chapter I of the new Policy provided, inter alia, 'licences issued before the commencement of this Policy shall continue to be valid for import/export of the items permitted therein.'