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RAJIV SAHAI ENDLAW, J.

1. The Adjudicating Authority constituted under Section 21 of the Special Economic Zones, Act, 2005 r/w Foreign Trade (Development & Regulation) Act, 1992 has vide order dated 21st December, 2011 imposed penalty of `66.30 crores on the petitioner Company and also suspended the Importer Exporter Code No.4606000066 of the petitioner Company, a Unit in Vishakhapatnam SEZ. The petitioner Company appealed against the said order to the Appellate Authority constituted under Section 15 of the Foreign Trade Act.

CM No.5366/2012 (for directions)W.P.(C) 2016/2012

2. That the petitioner Company prior to imposition of the penalty aforesaid entered into an agreement for purchase on High Seas, of Fatty Acid Methyl Ester (FAME) for a total sale consideration of `72 crores. The petitioner Company claims to have been unable to pay the said sale consideration and was thus unable to have the said imported goods released which are claimed to be incurring demurrage. The petitioner Company further claims that the foreign seller of the said goods has agreed to take back the said goods and the petitioner Company was thus required to re- export the same. However since the Importer Exporter Code No.4606000066 of the petitioner Company had been suspended, the petitioner Company was unable to. The petitioner Company in the circumstances applied to the Appellate Authority for revoking the suspension of the Importer Exporter Code No.4606000066 for the purpose of re-exporting the said goods.

13. In view of the aforesaid, we direct the respondents to permit the petitioner Company to forthwith re-export the goods aforesaid by treating the Importer Exporter Code No.4606000066 of the petitioner Company as CM No.5366/2012 (for directions)W.P.(C) 2016/2012 valid for the said limited purpose and subject of course to compliance of all rules, regulations & laws.

14. This order has been made to ensure the re-export of the goods, to save the petitioner Company from liability for price thereof and of demurrage and we sincerely hope that no further impediments, at least by the Adjudicating Authority shall be posed in the same.