1994 (5) TMI 125

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..... - The petitioner by this stay application seeks stay of operation of sub-para (iii) of Para 2 of Circular No. 7/94, dated 19-4-1994 issued by Deputy Director General of Foreign Trade, Ministry of Commerce regarding transferable facility in terms of Para 127 of the Handbook of Procedures (Volume 1) 1992-97, (Revised Edition : March, 1994). Briefly the facts are these : 2. On 28th April, 1....

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.... validity or six months, whichever is more". We may also notice that in some parts of Para 127, the term transferability has been used. Prima facie it seems clear to us that para 127 has the statutory force. By the impugned circular dated 19-4-1994 in particular sub-clause (iii) of Para 2 with which we are concerned at present, the date of transfer seems to be substituted by the date of transferab....

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....six months automatic extension under Para 127(v) of the Handbook of Procedures, and (iii) the automatic extension in validity shall be available with reference to the date on which the transferability is endorsed by the Licensing Authority." 4. The effect of aforesaid clause would be to calculate the period of six months from the date of transferability, in this case it is 6th Septembe....