Transfer of REP Licence Upheld: Bond Discharged, Customs Clearance Granted

The High Court of Bombay allowed the petition of transferees of REP Licence to import goods, ruling that the transfer of the licence is legal. The Court granted relief by discharging the bond furnished by the petitioners, despite Customs Authorities initially denying clearance due to a Show Cause Notice served to the transferor of the licence. No costs were awarded.

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The High Court of Bombay allowed the petition of transferees of REP Licence to import goods, despite Customs Authorities initially denying clearance due to a Show Cause Notice served to the transferor of the licence. The Court ruled that the transfer of the licence is legal and granted relief by discharging the bond furnished by the petitioners. No costs were awarded. (Case Citation: 1991 (7) TMI 108 - High Court of Judicature at Bombay)

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