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S.B. International Ltd. And Ors. vs Asstt. Director General Of Foreign ... on 24 January, 1996

The situation is no different in our case either. The pass books were issued to the petitioners on certain conditions as they appeared in the EXIM Policy, which we have quoted earlier. If that is so, then the entitlement of the petitioners to the credit earned on account of the exports made during the pendency of the pass books granted to them could not be set at naught by relying on the subsequent norms which came into effect only from 1-4-1997. The Bombay High Court had also relied upon the aforementioned decision of S.B. International Limited case. We also respectfully agree with the learned Judges of the Bombay High Court and would choose to follow the same course as they did.
Supreme Court of India Cites 10 - Cited by 63 - B P Reddy - Full Document

Sonia Fisheries & Anr. vs Union Of India & Ors. on 14 August, 1996

22. To the same effect is the judgment of the Bombay High Court reported in 1997 (68) ECR 796 (Sonia Fisheries and another v. Union of India and others). There, the Division Bench of the Bombay High Court was considering the question of the liability of the exporters who had availed of the Advance Licence facility to import. It was the case of the petitioners that since the exporters were made in terms of the advance licences the petitioners were entitled for transferability as per the EXIM policy. An application to that effect was made for endorsing the licence. While considering the question, the Bombay High Court came to the conclusion that once the advance licences were given to the petitioners on the basis of the EXIM policy in force, it was apparent that they were on condition of fulfilling their export obligations. At that time, there was no SION published at all. The Division Bench, headed by M.B. Shah, C.J., as His Lordship then was, observed:
Bombay High Court Cites 0 - Cited by 7 - M B Shah - Full Document
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