M/S LARSEN & TOUBRO LTD. vs UNION OF INDIA

The Supreme Court addressed the appeal by Larsen & Toubro Ltd. against the Madras High Court's decision which dismissed their writ petition regarding the International Price Reimbursement Scheme (IPRS) for steel supplies. The Court held that the IPRS does not cover 'deemed exports' and emphasized the necessity of adhering to the registration and application procedures outlined in the scheme. The appeal was dismissed, affirming the High Court's ruling and clarifying the conditions under which benefits under the IPRS can be claimed.