2009 (6) TMI 369

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.... authorized to grant licences, permissions, credits, pass books etc., in terms of 'Foreign Trade Policy' framed under that enactment. The petitioner is under the Export Import Policy (now called the 'Foreign Trade Policy' or 'FTP') issued by the Ministry of Commerce and Industry, Government of India, which is the prescribed authority, as well as the sponsoring agency. Under Chapter 2.43 of the Policy, the said promotion councils are required to promote and develop exports and are responsible for particular groups of products, projects and services. 2. The Government of India, Ministry of Commerce under the FTP announced an incentive scheme called "Target Plus Scheme" by rewarding Star Export Houses to those companies which has achieved qu....

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.... 100% and above 15% (of 100%) It is stated that the status of an exporter is determined depending on the total FOB Value of export performance during the current as well past three years. The petitioner being a Status Holder of Export House (1 Star) status since 1st April 2002, was eligible to obtain the benefit of Target Plus scheme under the existing policy. 4. However, the Government issued a notification dated 12-6-2006. which amended the first sentence of para 3.7.3 of the policy, which reads as under : "The entitlement under this scheme would be contingent on the Minimum percentage incremental growth of 20% in FOB value of exports in the current licensing year over the previous licensing year, and the rate of entitlement shall be ....

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.... pursuant to the policy declared in terms of Annexure - C. By virtue of amendment Annexure - K1, the benefit and the accrued rights vested in the petitioner is sought to be taken away, which is impermissible under law. The amendment therefore, would not disentitle the petitioner for the benefit that had accrued, notwithstanding the amendment, which is stated to be as being expressly retrospective effective from 1-4-2005. Notwithstanding the same, the benefit being claimed for the year ending as on 31-3-2006, would indicate that there was a vested right in the petitioner to claim the credit entitlement for that year even prior to the amendment having come into force. Hence, notwithstanding the amendment is retrospective effect, vested right....

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....out a case for quashing the notification at Annexure K-1, as unconstitutional and ultra vires Article 191(l)(g) as well as the provisions of the Foreign Trade (Development and Regulation) Act, 1992. The respondents having entered appearance through counsel, inspite of several adjournments having granted, has failed to file any statement of objections. The Counsel for the respondent would even now seek further time to file statement of objections on the ground that the respondents have delayed in furnishing instructions. 8. Having regard to the facts and circumstances and the position of law as urged by the petitioner hereinabove, the petitioner having proceeded to act in terms of the policy, which has been brought into force as narrated h....