Indian Oil Corporation Ltd vs Chief Inspector Of Factories And Ors. ... on 14 July, 1998
7. Whether in the facts of the present case, any penalty could at all be imposed, in view of the decision of the Hon'ble Supreme Court in Indian Oil Corporation Ltd. vs. Chief Inspector of Factories (1999 (113) ELT 761), wherein it was held that IOCL, which was wholly owned and controlled by the Government was not "likely to evade" the law, while being engaged in the supply and distribution of petroleum and petroleum products, in order to ensure and effective and efficient supply system, mutates mutants, the same legal position should apply to the facts of the present case where, as a matter of governmental policy, it was decided to arrange the import of gold through M/s. MMTC, apparently with a view to ensure an effective an efficient supply system.