I.P. Mukerji, J. - (1.) The writ petitioner was issued nine advance licences. Seven were issued between 3rd April, 2007 and 17th July, 2007. Two were issued on 25th February, 2009 and 26th February, 2009. These advance licences were issued under a scheme which was part of the import and export policy of our country. An importer was given the benefit of duty free import. The imported items had to be used as inputs of manufacture. The manufactured goods had to be exported to bring in foreign currency as export proceeds. Here, the raw material permitted to be imported duty free was yarn.
(2.) It appears that in relation to the advance licences issued in 2007, the writ petitioner fulfilled their export obligation. But they could not fulfill their export obligation with regard to the two advance licences issued in 2009.
(3.) Mr. Kundu, learned senior advocate appearing for the petitioner submits that this failure on the part of the petitioner was not deliberate but was due to adverse market conditions and cancellation of the order by the exporter.;