https://www.taxtmi.com/caselaws?id=333734 A writ petition concerning a contractual production-sharing arrangement was maintainable because the impugned action involved public authorities exercising statutory and policy functions, giving the dispute a public law element. On merits, the Foreign Trade Policy treated crude oil as a State-traded item and did not confer a vested right of export. The production-sharing contract made export contingent on India attaining self-sufficiency and the Government declining to purchase the oil, which had not occurred. Refusal of export permission was therefore not arbitrary or mala fide, and the petitioners were left to pursue contractual remedies, including any claim for compensation, through the agreed dispute resolution process. en-us Tue, 18 Oct 2016 00:00:00 +0530 Thu, 30 Mar 2017 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333734 A writ petition concerning a contractual production-sharing arrangement was maintainable because the impugned action involved public authorities exercising statutory and policy functions, giving the dispute a public law element. On merits, the Foreign Trade Policy treated crude oil as a State-traded item and did not confer a vested right of export. The production-sharing contract made export contingent on India attaining self-sufficiency and the Government declining to purchase the oil, which had not occurred. Refusal of export permission was therefore not arbitrary or mala fide, and the petitioners were left to pursue contractual remedies, including any claim for compensation, through the agreed dispute resolution process. Case-Laws Customs Tue, 18 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333734