PDP STEELS LTD. Vs. UNION OF INDIA

JUDGEMENT

(1.) Heard Dr. A.K. Saraf, learned senior counsel for the petitioners. Also heard Mr. S.C. Keyal, learned Assistant Solicitor General of India along with Mr. M. Phukan, learned CGC and Dr. B. Ahmed, learned standing counsel, Industries and Commerce Department.

(2.) It is submitted by the learned counsel that in these writ petitions challenge is to a Letter/Circular dated 18.6.2014 on the ground that the same is unconstitutional and repugnant to the North East Industrial and Investment Promotion Policy, 2007 (NEIIPP, 2007) communicated by Office Memorandum dated 1.4.2007 and the Central Interest Subsidy Scheme, 2007 (Subsidy Scheme) issued vide Notification dated 27.7.2007. Therefore, narration of factual matrix of each of the writ petitions is not considered necessary. Learned counsel for the parties submit that for the purpose of disposal of the writ petitions, the pleadings and the documents produced in respect of WP(C) No.2002/2015 may be referred to.

(3.) The commensality of facts, as unfolded in the writ petitions, in short, necessary for the purpose of these cases, are that the petitioners had established industries prior to 1.4.2007 but pursuant to NEIIPP, 2007, had gone for substantial expansion within the meaning of NEIIPP, 2007. The Government of India approved a package of fiscal incentives and other concessions in the form of NEIIPP, 2007 effective from 1.4.2007. Under the NEIIPP 2007, various incentives were promised to new industrial units and existing industrial units going for substantial expansion on or after 1.4.2007. The NEIIPP, 2007 laid down that interest subsidy will be made available at the rate of 3% on working capital loan advanced by Scheduled Banks and Central/State Financial Institution as was available under North East Industrial Policy, 1997 (NEIP, 1997).