2003 (7) TMI 463

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.... None, for the Respondent. [Order per : Jyoti Balasundaram, Member (J)]. -  The brief facts of the case are that M/s. S.K. International had imported Pentaerythritol against 2 freely transferable REP licences originally issued to M/s. Bhagwandas Bharumal & Co. in 1984. Clearance against these licences was not allowed by the department as the two licences have been suspended by Jt. C.C.....

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....ecisions of the Hon'ble Bombay High Court in the case of M/s. K. Uttamlal Exports [1990 (46) E.L.T. 527 (S.C.)] and that of the Apex Court in M/s. East India Commercial Co. Ltd. v. CC, Calcutta [1983 (13) E.L.T. 1342 (S.C.)] to hold that subsequent invalidation by cancellation of the licence does not affect the validity of the import. However, as rightly pointed out by the ld. SDR, those decisions....