1995 (7) TMI 83 - HC - Customs

Summary

The High Court of Bombay ruled in favor of a partnership firm involved in the export and import of rough diamonds. The firm was granted an advance license but was required to provide a bank guarantee, which they contested. The court found that the firm was entitled to provide a legal undertaking instead of a bank guarantee, as per the Import Export Procedures. The court ruled in favor of the firm, granting their petition under Article 226 of the Constitution of India.