TEXTILE QUOTA MANAGEMENT and another vs Messrs A.R.K. GARMENT
This matter arises from a petition against a High Court judgment upholding a Sole Arbitrator's award. The core legal questions for consideration are whether the learned Arbitrator was legally justified in allowing credit for excess export of quota exported by the respondent in addition to the sanctioned quota in the year 1992 based on performance, and whether the interpretation of Rules 8 and 9 of S.R.O. 166(I)/92 issued under section 3 of the Imports and Exports (Control) Act, 1950 can be sustained at law. The Supreme Court granted leave to appeal to consider these questions and ordered that the operation of the impugned judgment shall remain suspended until the decision of the appeal.
- Was the Arbitrator legally justified in allowing credit for excess export of quota exported in addition to the sanctioned quota in 1992 based on performance?
- Can the interpretation of Rules 8 and 9 of S.R.O. 166(I)/92 issued under section 3 of the Imports and Exports (Control) Act, 1950 be sustained at law?
- Section 3, Imports and Exports (Control) Act, 1950
ORDER
1. Short question for consideration in this petition arising out of High Court judgment in High Court Appeal No,161 4of 2004 upholding Sole Arbitrator's award is whether the learned Arbitrator was legally justified in allowing credit for excess export of quota exported by the respondent in addition to the sanctioned quota in the year 1992 on the basis of his performance and whether the interpretation of Rules 8 and 9 of the S.R.O. 166(I)/92, dated 7-3-1992 issued under section 3 of Imports and Exports (Control) Act, 1950 can be sustained at law.Leave to appeal is allowed, inter alia to consider the above questions. .
2. C.M.A. No,273-K of 2006.--- Operation of the impugned judgment shall remain suspended till decision of the appea'l. Appeal may be listed at an early date.