Voltas Ltd. vs State Of Andhra Pradesh

The Supreme Court addressed appeals against the Andhra Pradesh High Court's judgment concerning the privatization of Hyderabad Allwyn Ltd under the BIFR scheme. The Court held that the memorandum of understanding (MOU) and the BIFR-sanctioned scheme, which included provisions for sales tax deferment, were binding and enforceable. The Court emphasized that the government must adhere to the terms of the G.O. No. 66 and the subsequent G.O. No. 119, ensuring that the sales tax deferral was consistent with the approved scheme, thereby upholding the principles of administrative fairness and contractual obligations.