Licensing action for alleged overvaluation to obtain ineligible drawback-revocation, forfeiture, penalty quashed for 344-day inquiry delay

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....Licensing action challenged alleged overvaluation to obtain ineligible drawback; findings were premised on breaches of licensing regulations but the enquiry report was submitted after a 344-day lapse. The decision emphasises mandatory adherence to prescribed timelines for regulatory enquiries and requires explicit findings attributing any delay to the licencee before punitive measures may be sustained. As a result, revocation of licence, forfeiture of security and imposition of penalty were quashed and the impugned order set aside for failure to justify or attribute the prolonged delay.....