TaxTMI 
TaxTMI 
TaxTMI 
2023 (12) TMI 1338
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....tioner- Company is registered under the relevant provisions of the Companies Act, 1956 and it is engaged in the business of exporting Rice from various parts of India to various countries around the world. It also used to export non-Basmati White Rice after obtaining necessary export and import permissions/ Code from the authorities and upon the same petitioner-Company entered into three contracts / supply Agreement with Ascent Commodities for supply of non-Basmati Indian white rice, details of the same has been given in paragraph 8.2 of the writ petition, which is reproduced below :- Sr. No. Contract Number Date of entering into a contract Buyer name Letter of Credit opening date Quantity of Non-basmati Indian White Rice 1. ....
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....as granted permission to export Non-basmati White Rice to the extent of fullfilment of contract and according to the letter of credit, which had been issued by the petitioner. He would next submit that if respondents authority want, they may verify contract entered into between the parties, letter of credit issued by the petitioner and other factual aspect of the case. Hence, it is prayed that application for ad-interim relief may be allowed and relief may be granted to the extent with regard to the fulfilment of contract, as has been mentioned in paragraph 8.2 of the writ petition, pursuant to which letter of credit has been issued by petitioner for the said quantity. Per contra, learned Deputy Solicitor General appearing for the Responde....
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.... has already entered into contract for supply of aforesaid rice to various foreign entities prior to issuance of notification (Annexure P-1) and if terms of the contract are not fulfilled, then of-course same will be create various hardship to the petitioner alongwith goodwill of his business. Taking the submission of learned counsel for the petitioner and also considering the fact that contract was already entered into for supply of non- Basmati White Rice with foreign entities and letter of credit has also been issued by the petitioner for the said quantity, therefore, this Court finds that prima facie point is made out for consideration and considering the facts of the case, objection raised by learned Deputy Solicitor General is not fo....