SOMASUNDARAM, J.

This Writ Appeal has been filed against the order in W.P. 10444 of 1992, issuing a Writ of Mandamus directing the appellants herein to issue a licence for the export of the goads to the value of U.S. Dollars 75, 000/- against the letter of credit No. 41-2432445-031.

2. The respondent, a partnership firm, is recognised exporter. The main products of export is musical instruments parts made out of red sanders wood. The respondent has installed the necessary infrastructures for carrying on its export business by setting up a production facility at No. 1, Riswan Madhavaram. Red sanders wood is widely used by Japaness for making the musical instrument known as "Shamisen". Export of Red sanders musical instruments and chips, powder and koto-parts had been taking place in the past several years from Tamil Nadu as per the exports and imports policy prevailing up to 31-3-1992. The export of the said products was on the basis of the licence issued by the Chief Controller of Imports and Exports, New Delhi. As a matter of fact, the export and import policy was announced for the period from April 1990 to March 1993. But, however, in March 1992, the export import polic