(1.) The dispute before us arises out of an import of a consignment of palm stearine by 3ain Exports Private Limited, a registered Export House, under a licence issued against three registered export contracts. The said licence was acquired by the importer on the 27th July, 1982.
(2.) The import which was from Malaysia was arranged for sometime in January, 1984 and the shipment was to be effected during the first half of March, 1984 subject to availability of vessel.
(3.) Port workers, all over India, struck work from the 15th March, 1984 for an indefinite period. The strike however continued only till the 15th April, 1984. In view of the said strike which was announced in advance the consignment was not shipped as arranged.