FTP - Restriction on Export of Cotton Yarn - Bombay High Court Quashes DGFT Policy Circular
BY a notification dated 9.4.2010 issued under Section 5 of the FTP 2009-2014, the Central Government, imposed restriction on export of cotton yarn by directing that the contracts for export of cotton yarn shall be registered with the Textile Commissioner prior to shipment and clearance for export of cotton yarn consignments shall be given by customs authorities after verifying that the contracts have been registered.
Notification dated 22.12.2010 was issued to permit export under licence with retrospective effect from 1.12.2010 and the policy circular dated 22.12.2010 was issued to implement the policy decision taken in the meeting of Group of Ministers on 21.12.2010, imposing restriction on the export of cotton yarn during the year 2010 - 11 (upto 31.03.2011) at 720 million kgs. The policy circular further provides that henceforth export of cotton yarn will be restricted and will be allowed to be exported under a licence.
Now the Bombay High Court has quashed the Policy Circular dated 22.12.2010 as contrary to law . The High Court rejected the Government's plea to stay the operation of the order.
Please see , 1513, 1536, 1541, 1548, 1550 and 1555.
This order was delivered on 9th March and we bring it to you today.
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