M/S NOLA RAM DULICHAND DAL MILLS PARTNER vs UNION OF INDIA

The Supreme Court addressed the validity of a Circular issued under the Foreign Trade Policy, which the appellant claimed was contrary to the provisions of the policy. The court examined the changes made in the scheme for the years 2005-06 and 2006-07 regarding duty credit entitlement for exports. Ultimately, the court upheld the Circular, affirming the High Court's dismissal of the writ petition, thereby validating the government's discretion in policy formulation under the Foreign Trade (Development and Regulation) Act.