https://www.taxtmi.com/caselaws?id=46786 REP licences transferable under the Import Export Policy, 1985-88 were governed by ordinary law, and a licence procured by fraud was treated as voidable rather than void ab initio. Bona fide transferees for value without notice were protected under the East India Commercial line of authority, so later suspension or cancellation of the original licence did not retrospectively invalidate imports already made or bills of entry already filed. Fedco was distinguished because it concerned the fraudulent licence-holder, not an innocent transferee. On the facts, the goods were imported while the licences remained operative, and Customs could not withhold clearance. en-us Tue, 07 Jan 2003 00:00:00 +0530 Fri, 02 Jan 2026 14:50:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=46786 REP licences transferable under the Import Export Policy, 1985-88 were governed by ordinary law, and a licence procured by fraud was treated as voidable rather than void ab initio. Bona fide transferees for value without notice were protected under the East India Commercial line of authority, so later suspension or cancellation of the original licence did not retrospectively invalidate imports already made or bills of entry already filed. Fedco was distinguished because it concerned the fraudulent licence-holder, not an innocent transferee. On the facts, the goods were imported while the licences remained operative, and Customs could not withhold clearance. Case-Laws Customs Tue, 07 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=46786