- (1.) In this writ application, the Petitioner has challenged a Circular No. 17 (RE-2010)/2009-14 dated 10th February, 2011 issued by the Joint Director General of Foreign Trade, announcing that an administrative decision had been taken to consider allocation of cotton yarn for export only to applicants with export performance in 2009-10.
(2.) The Petitioner No. 1, a private company within the meaning of the Companies Act, 1956, of which the Petitioner No. 2 is a Director, claims to carry on business inter alia of trading in cotton.
(3.) According to the Petitioners, the Petitioner No. 1 imports and exports cotton, its Import Export Code number being 0296024937. Section 3 of the Foreign Trade (Development and Regulation) Act, 1992, hereinafter referred to as the Foreign Trade Act, empowers the Central Government, by order published in the Official Gazette, to make provision for development and regulation of foreign trade by facilitating imports and increasing exports. Section 3(2) of the Foreign Trade Act provides that the Central Government might by order published in the Official Gazette, make provisions prohibiting, restricting or otherwise regulating import or export of goods. Section 5 of the Foreign Trade Act empowers the Central Government to formulate and announce, from time to time, the Import Export Policy, by notification in the Official Gazette and in like manner, to amend that policy.;