S. RAJENDRA BABU, J.

( 1 ) THE petitioners in these cases, who are manufacturers and exporters of goods, are entitled to Import Replenishment Licence (hereinafter referred to as 'rep Licence') under the Import-Export Regulations framed under the Imports and Exports Control Act, 1947, which facilitates import of goods that are necessary for and go into the manufacture of items which are exported.

( 2 ) APPLICATIONS for issue of REP licence are made by manufacturers/exportersunder certain schemes pursuant to procedures laid down thereunder and issued by the Controller of Imports and Exports, depending on the export performance of the manufacturer/importer. The REP licence so issued can be used by the manufacturers or importers to import goods to replenish materials used in production of goods which were exported or for further production of goods which are to be exported, or that such licences can be freely transferred or disposed off to any person and permission or licence of the licensing authority is not required. The conditions subject to which the REP licences were issued are binding on the purchasers of such licences from the manufacturers or importers and he will be entitled to

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