Sandip Exports Ltd. And Anr. vs Union Of India (Uoi) And Ors.

The Supreme Court upheld the application of the principle of 'promissory estoppel' in the context of the validity of an annual advance licence under the Hand Book of Procedure, specifically referencing Clause 4.15(b). The Court affirmed the High Court's decision to extend the validity of the licence until 12.4.2002, recognizing that the appellant could not plan imports during the verification period. The Court found that the Division Bench's interpretation of the validity period was incorrect, as it did not account for the operative date of the licence.