2024 (7) TMI 943 - SCH - Customs

Permission Granted to Export Goods With Condition to Deposit Proceeds in Interest-Bearing Account Within Two Weeks.

The SC permitted the petitioner to export warehoused goods or machinery, contingent upon depositing the proceeds with the SC within two weeks. These ... Grant of permission to the petitioner to export the warehoused goods/machinaries - HELD THAT:- The permission granted to the petitioner to export the warehoused goods/machinaries, which are the subject matter of the present special leave petition, subject to the proceeds of the said export being deposited before the Registry of this Court within a period of two weeks from the date of the receipt of the proceeds of the said export sale. On such deposit being made, the Registry shall transmit the same in an interest bearing Fixed Deposit Account in a nationalised Bank offering highest rate of interest initially for a period of six months on auto-renewal basis. Application disposed off. The Supreme Court granted permission to the petitioner to export warehoused goods/machinery subject to depositing proceeds with the Court within two weeks for placement in an interest-bearing Fixed Deposit Account for six months.