Garg Acryclics Ltd. vs Union of India

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

DELHI HIGH COURT
C.HARI SHANKAR
Garg Acryclics Ltd. – Appellant
Versus
Union of India – Respondent

Table of Content
1. establishment of the technology upgradation fund scheme (tufs) (Para 1 , 2 , 3)
2. contentions relating to the entitlement under tufs (Para 8 , 15 , 23)
3. court's analysis on the application of tufs (Para 38 , 40 , 47)
4. guiding principles of promissory estoppel (Para 50 , 51 , 57)
5. final determination regarding entitlement to tufs (Para 237 , 238)

JUDGMENT

The Dispute

1. With a view to incentivize specific sectors of the textile industry, the Ministry of Textiles, vide Resolution No. 28/1/99-CTI dated 31st March, 1999, introduced the Technology Upgradation Fund Scheme (TUFS), which, in substance, provided 5% reimbursement of the interest charged by financial institutions identified in the TUFS, on loans availed by the concerned unit in the textile industry for the purpose of upgradation of the unit.

2. The TUFS, as originally introduced by the aforesaid Resolution dated 31st March 1999, applied to the textile, jute and cotton ginning and pressing industries. The Resolution noted that the TUFS was operational with effect from 1st April 1999 for a period of 5 years, i.e. up to 31st March 2004, which was subsequently extended to 31st March 2007.

3. The salient

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DELHI HIGH COURTC.HARI SHANKARGarg Acryclics Ltd. – AppellantVersusUnion of India – Respondent

DELHI HIGH COURT
C.HARI SHANKAR
Garg Acryclics Ltd. – Appellant
Versus
Union of India – Respondent