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TMI Blog2010 (4) TMI 1054X X X X Extracts X X X X X X X X Extracts X X X X ..... , 2008. To M/s.Stonemann Royale Ltd. 7576, Ashok Chambers, Plot No.56, Elphinston Estate, Devji Ratanshi Marg, Masjid (E), Mumbai400 009. Subject: (i) Contract No.:GM/SRL/AMS/1001 dated 27.8.2007. (ii) Contract No.:XY/SRL/AMS/001 dated 14.1.2008. (iii) Contract No.:BY/SRL/AMS/001 dated 14.1.2008. Sir, I am directed to refer to your three letters dated 26.9.2008 on the subject mentioned above and to inform that in the absence of any LCs you are not entitled for the benefits of the transitional arrangements under para 1.6 of the FTP. This issues with the approval of competent authority. Yours faithfully, Sd/( Puneet Sharma) Foreign Trade Development Officer For Director G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty of custom by the Custom House at JNPT. According to the petitioners, they were under a contractual obligation to import remaining quantity admeasuring about 4,11,550 sq.mtrs., in view of their contracted commitment on or before January, 2010 since the contract was for valid two years. 5. It appears that when the execution of the aforesaid contract was half way, the respondent No.2 issued notification bearing No.41(RE2008)/ 200409 dated 18th September, 2008 making certain amendments in the ExportImport Policy 200409; whereby in respect of the goods in question, which were freely importable, now, the condition of free importability is confined to processed tiles/ slabs agglomerated/ artificial stone whose CIF value is above US$ 50/per s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or import that is permitted freely under FTP is subsequently subjected to any restriction or regulation, such export or import will ordinarily be permitted notwithstanding such restriction or regulation, unless otherwise stipulated, provided that shipment of export or import is made within original validity with respect to available balance and time period of an irrevocable letter of credit established before date of imposition of such restriction. However, a time limit for operationalising such LCs may be prescribed. 8. Mr.Mistry further brought to our notice the clarificatory statement contained in the DGFT circular, which reads as under: 3. Under the Transitional Arrangements (as amended), the reference is to `irrevocable com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring into a fresh import contract subsequent to change in the import policy and submit back dated contracted documents. So far as case in hand is concerned, in the submission of Mr.Mistry, petitioner s prayer ought to have been considered on its own merits by the DGFT. He submits that in the facts of this case there is no possibility of creating back dated contracted documents by the petitioner. That the petitioner is, thus, entitled to permission from the DGFT. He, thus, submits that the impugned order not only suffers from the breach of principles of natural justice for want of reasons but also suffers from non ::: application of mind on the part of respondent No.2. He submits that the impugned communication is liable to be quashed and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ition of restriction is to provide greater sanctity and assurance that the contract is not back dated and to arrest exporters from submitting back dated documents to take undue advantage. 12. Considered from this angle, in the case in hand, we are, prima facie ; satisfied that there is no attempt on the part of the petitioners to create antidated bills of lading or contracted documents. The petitioners have already entered into a subject contract. More than half of the contract has already been executed by importing goods. The goods have been actually imported under the subject contract. They were assessed and released by the custom authorities. Half of the contract is yet to be executed. Under these circumstances, it is not possible to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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