https://www.taxtmi.com/caselaws?id=99601 A contractual arrangement did not bar writ jurisdiction where a public authority's refusal of approval had statutory significance and immediately affected civil rights and liabilities. The court held that the petitioner could maintain the writ petition because the disapproval prevented completion of the transaction. It further held that, where governmental approval is a condition precedent under the foreign exchange regime, the decision must be reasoned and preceded by a fair opportunity of hearing. As the record showed neither reasons nor hearing, the disapproval was illegal and liable to be quashed, and the transaction was left alive subject to the approval process. en-us Fri, 10 Mar 1978 00:00:00 +0530 Sat, 28 Jan 2012 10:32:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99601 A contractual arrangement did not bar writ jurisdiction where a public authority's refusal of approval had statutory significance and immediately affected civil rights and liabilities. The court held that the petitioner could maintain the writ petition because the disapproval prevented completion of the transaction. It further held that, where governmental approval is a condition precedent under the foreign exchange regime, the decision must be reasoned and preceded by a fair opportunity of hearing. As the record showed neither reasons nor hearing, the disapproval was illegal and liable to be quashed, and the transaction was left alive subject to the approval process. Case-Laws Companies Law Fri, 10 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99601