Judgement

RAJENDRA BABU, J. :- In these petitions validity and application of the Scheme, as modified by introduction to Rule 57F (read as 57F(4-A) of the Central Excise Rules, 1944 under which credit which was lying unutilised on 16th March, 1995 with the manufacturers, stood lapsed in the manner set out therein is questioned.

The relevant rule reads as follows: 893

"(4A) Notwithstanding anything contained in Sub-rule (4) or sub-rule (1) of Rule 57A and the notification issued thereunder any credit of specified duty lying unutilised on the 16th day of March, 1995 with a manufacturer of tractors, falling under heading No. 87.01 or motor vehicles falling under heading No. 87.02 and 87.04 or chassis of such tractors or such motor vehicles under heading No. 87.06 of the Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) shall lapse and shall not be allowed to be utilised for payment of duty on any excisable goods, whether cleared for home consumption or for export:

Provided that nothing contained in this sub-rule shall apply to credit of duty, if any, in respect of inputs lying in stock or contained in finished products lying in stock on the 16th day of March, 1995."

2. There are