Court Upholds Appellant's REP Licenses; No Duty From Transferors Despite Fraudulent Acquisition; Pre-Cancellation Imports Valid.

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....Bonafideness of appellant in buying and utilising the REP licences issued - the duty cannot be demanded from the transferers, where the licences were genuine but obtained by fraudulent representation, they can be made only voidable and imports which happen prior to the cancellation cannot be held as improper. - AT....