Calcutta High Court
Union Of India & Ors vs M/S. Rajshree Industries & Exports on 14 December, 2010
Author: Sengupta
Bench: Sengupta, Kanchan Chakraborty
ORDER SHEET
IN THE HIGH COURT AT CALCUTTA
ORIGINAL SIDE
F.E.A. No.1 of 2003
Union of India & Ors.
Vs.
M/s. Rajshree Industries & Exports
BEFORE :
The Hon'ble Justice Sengupta
And
The Hon'ble Justice Kanchan Chakraborty
__________________________________________________________________
Date: 14th December, 2010
__________________________________________________________________
Having heard learned counsel for the appellants and having
gone through the impugned judgment and order, we are of the view
that in this matter the following substantial questions of law are
involved for rendering decision by this Court.
Hence, we admit the appeal on those following substantial
questions of Law:
"(a) Whether pendency of an application to the Reserve Bank of India
to write off outstanding dues of export proceeds would preclude
appellants authorities from proceeding with issuance of the show
cause notice dated 24th February, 1998 and to proceed with
adjudication proceedings under Section 50 of the Foreign
Exchange Regulation Act, 1973;
2
(b) Whether in the facts and circumstances of the case it was not
possible for the Reserve Bank of India to accord permission to the
respondent to write off the said unrealized export proceeds of
US$ 61,929.28 in view of clause 6(c).14 of the Reserve Bank of India Manual Software, currency ." Let requisite number of paper books be filed within four weeks after Christmas Vacation.
Let notices of appeal be served by the department on the respondent.
Liberty to mention for early hearing. All parties are to act on a signed photocopy of this order on the usual undertakings.
( Sengupta, J. ) ( Kanchan Chakraborty, J. ) AKGoswami