M/S. BARAKA OVERSEAS TRADERS vs DIRECTOR GENERAL OF FOREIGN TRADE

The Supreme Court upheld the decision of the Andhra Pradesh High Court, affirming that the appellant's advance licenses for export under the Duty Exemption Scheme were transferable, regardless of whether they were issued under the 'norms category' or 'no norms category'. The Court emphasized that the licenses were granted under Section 5 of the Foreign Trade (Development and Regulation) Act, 1992, and clarified that the existence of norms for certain products does not negate the transferability of licenses issued for products in the 'no norms category'. The appeal was dismissed, confirming the High Court's ruling.