UNION OF INDIA & ORS. vs M/S EXEN INDUSTRIES

The Supreme Court held that upon the dissolution of a partnership, the entitlement to import licenses is determined by the existing rules and the division of assets as per the partnership deed. The Court clarified that under para 88(2)(c) of the Import Trade Control Handbook, a joint application for re-issue of licenses must be made by all partners, and the respondent was not entitled to more than what was granted by the Government. The appeal was allowed, affirming that the respondent's claim for additional licenses was unjustified as it would unfairly disadvantage the other partner.