2016 (8) TMI 143

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....s petition seeks a review of the judgment dated 10.10.2013 whereby above noted LPA No. 582 of 2003 was dismissed. The facts of the case are that in terms of the prevalent EPCG scheme, the petitioner had imported machinery at a concessional rate of customs duty with an undertaking/ export obligation to export goods worth three times the CIF value of the licence/imported goods. The export obligation....

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....d against the export obligation mentioned in rupee terms. We are not persuaded by this argument because, firstly the petitioner is seeking to set up entirely a new case and secondly, the export obligation being specifically mentioned in US$, ought to have been met accordingly. However, even if the undertaken obligation was discharged in DM, the equivalent value of the specified US$ would have to b....