2003 (7) TMI 81

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....the Company'). The company had applied for and was granted licence under the Duty Exemption Scheme whereunder it could import Orthoxylene without payment of import duty against its obligation to export Pthalic Anhydride. After the import of Orthoxylene and using the same in the manufacture of Anhydride, the company could not export the same due to recession in the international market and sold it ....

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....rts Control Order, 1955. Besides imposing a penalty Rs. 1 crore 25 lakhs on the company, the Directors of the company including the petitioner were also debarred from receiving any import licence, customs clearance permits, etc. for a period of two years. Certain orders were also passed against the Directors of the company. Appeals were filed by the Directors of the company against the orders pass....

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....the company by a common order dated 27th July, 1995/7th August, 1995 and the aforesaid order having been quashed, as aforesaid, I do not see any reason to differ with the aforesaid judgment dated 7-7-2003. I am even otherwise satisfied that the orders of penalty, etc. could not have been passed against the Directors of company as not only that show cause notice was not given to the Directors but t....