Baraka Overseas Traders vs Director General Of Foreign Trade And ...

The Supreme Court held that the refusal of the Director General of Foreign Trade (DGFT) to endorse the transferability of advance licenses under the Duty Exemption Scheme was unjustified. The Court clarified that regardless of whether the licenses were issued under the 'norms category' or 'no norms category', they were transferable as per the EXIM POLICY 1997-2002, which is governed by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992. The Court overturned the High Court's dismissal of the writ petition and directed the DGFT to process the endorsement request accordingly.