Supreme Court of India
M/s. Baraka Overseas Traders v. Director General of Foreign Trade and Anr.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
From the headnote
Foreign Trade (Development and Regulation) Act, 1992: Section 5-Exim Policy-Duty exemption Scheme-Advance /icence Transferability-Held, the licences are transferable whether issued under the - 'norms' or ' no norms ' category. Administrative Law: Licence-Rights accrued-New law eriforced in replacement of old law-Held, continues to exist unless there is an express or implied inconsistent provision in the new law. Under the 'Duty Exemption Scheme' envisaged in the Exim Policy 1997- 2002, import of certain specified input required for the manufacture and export of the resultant product was…
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