O R D E R

These writ petitions are filed by four individuals, who are all employees of various banks. The petitioner in WP.No.16359 of 2016 was holding the post of Assistant General Manager, Canara Bank Mid Corporate Branch, the petitioner in WP.No.16352 of 2015 was formerly, the Chairman of the Catholic Syrian Bank, the petitioner in WP.No.17520 of 2016, the Deputy General Manager, State Bank of Hyderabad and the petitioner in WP.No.17511 of 2016 is Assistant General Manager, United Bank of India.

2. R2 in all writ petitions is one Gangotri Textiles Ltd. (R2/assessee) that had availed of a scheme promulgated by the Government of India under the Foreign Trade Policy, the Export Promotion Capital Goods Scheme (Scheme/EPCG Scheme). The Scheme entitled a beneficiary to import capital goods and set up manufacturing facilities at concessional rate of customs duty.

3. The grant of this benefit is subject to certain conditions that would have to be satisfied by the assessee, in that, the quantum of export would have to be eight times the customs duty saved. This is to ensure that the revenue that is forgone by the Government in duty, is compensated by the inflow of export earnings. The afor