M/S Sbec Sugar Limited & Anr vs Union Of India & Ors

The Supreme Court upheld the High Court's decision to dismiss the writ petitions filed by the appellants against the Assistant Commissioner of Customs' assessment of customs duty under the Customs Act, 1962. The Court reiterated that the rejection of the extension of the bond period was valid as it did not comply with the mandatory requirements under the Public Notice No.102/96. The Court also clarified that the EPCG Scheme's provisions do not retroactively exempt the appellants from customs duties for goods warehoused prior to the scheme's notification.