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M. S. KARNIK, VALMIKI MENEZES
Chowgule and Company Private Limited, Represented through its Constituted Attorney Mr. Vishwanath Kamat Malayekar – Appellant
Versus
Assistant Director General of Foreign Trade – Respondent
JUDGMENT :
(M.S. Karnik, J.) :
1. By this petition under Article 226 of the Constitution of India the petitioner prays for quashing and setting aside the impugned order dated 09.02.2024 and further commanding the respondents to refrain from taking any further action or proceeding against the petitioner with regard to interest on the strength of the impugned order. It is further prayed that the respondents be directed to return the original bank guarantee for an amount of Rs.1,21,69,200/- drawn on State Bank of India, Commercial Branch, Vasco da Gama Goa, to the petitioner along with all previous original bank guarantees.
2. The facts of the case in brief are thus: -
The petitioner is a Private Limited Company registered under the Companies Act, 1956. The petitioner is engaged in the business of mining, shipbuilding and allied activities. Relying upon the original Exim Policy, 1988-91 and acting upon the said policy, the petitioner entered into a contract with one NKK Corporation, Japan on 07.02.1990 for the export of processed iron ore, which was not an ineligible item in Appendix 12 under the Exim Policy, 1988-91. However, the petitioner actually exported the processed iron ore and re
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