HC quashes DGFT's mid-term revision of Bullion TRQ allocations under India-UAE CEPA.

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....The HC quashed the mid-term revision of Bullion TRQ allocations under the India-UAE CEPA for FY 2024-25 by the DGFT due to violation of natural justice principles. The petitioner was not granted a hearing opportunity or sufficient prior notice. Relying on its previous decision in KAKA GOLD LLP v. DGFT, the HC directed the DGFT to re-examine the issues raised by the petitioners after providing them an opportunity to be heard, maintain current allocations during the review process, and clearly communicate the criteria for TRQ revisions. Fresh orders were to be issued within three weeks after the petitioners filed a review application within one week.....