Supreme Court · 2003 INSC 114 · Decided 20 February 2003
Daewoo Motors India LTD. v. Union of India and ORS.
- Court
- Supreme Court of India
- Citation
- 2003 INSC 114 · [2003] 2 S.C.R. 276
- Case number
- CIVIL APPEAL No. 1502/2003
- Decided
- 20 February 2003
- Bench
- S.S.M. QUADRI, ASHOK BHAN (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 226; Customs Act Section 25(1)
Headnote
Customs Act, 1962: S. 25(1)-Exemption Notification No. 111195-CUS. dated 5.6.1995- Export Promotion Capital Goods Scheme-To faljil export obligation Company obtained various import licences in respect of which bank guarantees famished from various banks-Jn respect of CJF value 'of rupees one later extension D period revoked and bank guarantees invoked-Company contending that since the period for compliance of export obligation was extended, the bank guarantees cannot be permitted to be encashed as ample time is available to the company to discharge the export obligation-Held,
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