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1995 (11) TMI 97

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....ate licence in regard to his licences No. P/L/3260040/C and P/L/3260041/C. 3.Petitioner claims that it is one of the leading house engaged in the business of marine products and export of sea products. It has exported sea products worth crores of rupees annually. Export house certificate is granted only if the export is made of a particular target, which at present is to the tune of Rs. 10 crores during the last three years. The import licences as were being issued during the policy period of 1990-93 are styled as REP licence which are issued in lieu of export carried out. Since the petitoner was held entitled to such licences, it was directed from the office of respondents 3 & 4 for issuance of 2 REP licences for an amount of Rs. 8,60,400....

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....t the petitioner's complaint dated 21-9-1990 was received and consequently Deputy Chief Controller of Import and Export through letter dated 25-9-1990, in exercise of powers under Clause 9(3) of the Import Control Order, 1955, suspended the operation of the licences, thus, rendering the licences ineffective. It is also stated that the petitioner's request for issuance of Duplicate licences was duly considered but it was found that Duplicate licences in the facts and circumstances could not be issued, since petitioner's case was not strictly covered by REP Circular No. 24/91, dated 30-6-1991 annexure. P-7. 5.We have heared learned counsel for the parties and our attention has been drawn to the Circular, Annexure P-7, on the basis of which,....