JUDGMENT

K. Venkataswami J.-This appeal by special leave is directed against the Division Bench judgment of the Gujarat High Court dated 7.2.1985. Brief facts concerning the case are given below.

2. The first respondent-company is engaged in the manufacture of steel tubes through its Ambica Tubes Division. For the purpose of manufacture of steel tubes, hot rolled strips in coils are required as raw material. These hot rolled strips were being supplied at the relevant time to the manufacturers of steel tubes like (Ambika Tubes (hereinafter referred to as the importer) through the appellant subject to certain conditions. The manufacturers who are given raw materials must possess the import licence and have to carry out certain export obligations. The obligations concerning this for the period in question, namely, April 1983 to March, 1984 were given in the import and export policy for that period. Previously a public notice in respect of scheme for supply of raw material by Steel Authority of India Ltd. (hereinafter called the "SAIL") against advance import licence was issued on 11.12.1982. For the period 1983-84, it was announced, the Scheme published on 11.12.1982 would be continued.