DARSHAN OIL LTD. vs UNION OF INDIA

The Supreme Court upheld the amendment to the Import and Export Policy under the Import and Export (Control) Act, 1947, which canalized the import of fatty acids, restricting it to the State Trading Corporation. The Court clarified that the amendment, effective from 11.11.1993, prohibited imports under previously issued licenses unless shipments had already commenced from the country of origin before the amendment. The appellants' shipment did not qualify for this exception, leading to the dismissal of their appeal against the Bombay High Court's ruling.