BHUPENDRA S. BHATIA vs STATE OF M.P.

The Supreme Court upheld the Madhya Pradesh High Court's decision regarding the fixation of rates for the sale of foreign liquor through F.L.10 licenses, as per the new Excise Policy effective from 1.4.1996. The Court ruled that the rates determined by the State Level Purchase Committee were valid and that the appellant's challenge to the retrospective application of these rates was unfounded. The Court emphasized that the State's policy aimed to protect tribal interests and that the rates could be adjusted based on the new policy framework.