Import licence revalidation under an earlier policy was refused after the trade regime changed and no vested right survived.

Import licence revalidation could not be claimed under an earlier policy after a change in the import-export regime. The Court reiterated that the Government may revise trade policy according to prevailing exigencies, and that no vested right survives in a prior policy once it has been replaced. It also held that, on the facts, writ interference with the policy decision was not warranted. The request for clarification or modification of the earlier order was therefore properly rejected, and revalidation of the licences under the old policy was refused.

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Issues: Whether the appellant was entitled to clarification or modification of the earlier order so as to secure revalidation of import licences under the current import-export policy despite the change in policy regime.

Analysis: The Court held that the revalidation sought by the appellant could not be granted under the law then prevailing. It reiterated that the Government is entitled to revise import-export policy according to prevailing exigencies and that no person can claim a right under an earlier policy once the policy has changed. The Court also observed that there was no scope for interference with the Government policy through a writ petition in the circumstances of the case.

Conclusion: The request for clarification or modification was rightly rejected, and the appellant was not entitled to revalidation of the licences on the basis of the earlier policy.

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