High Court Criticizes Retrospective Amendments Under Foreign Trade Act, 1992, Citing Harm to Export Businesses and Arbitrary Actions.

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....Foreign Trad Policy - Despite absence of any power under Section 5 of the FTDR Act, 1992 for any retrospective amendment, several such amendments/instructions are being issued by respondent no.2 and are being arbitrarily applied in a retrospective manner, leading to unwarranted litigation and making an adverse impact on growth of export business - HC....