- (1.) That with a view to promote growth of industry in the State, the Punjab Government issued an industrial policy doling out various incentives to an assortment of industrial units which undertake expansion on or after 01.04.1996. The policy was notified through the Department of Industries & Commerce on 20.03.1996 known as the "Industrial Policy, 1996". In order to effectively implement the scheme of incentives enumerated in the industrial policy, the Government notified rules known as the "Punjab Industrial Incentive Code under the Industrial Policy, 1996".
(2.) The prayer of the petitioner firm is for a direction to the respondents to release the investment incentive (Capital Subsidy) along with 18% interest to which it laid claim on in terms of the aforesaid policy.1
(3.) The claim has been rejected on the ground that the induction furnice set up by the petitioner came into production after 04.06.2002, the cut off date under the industrial policy after which the benefit would lapse. The impugned order is dated 01.10.2002 (P-6). The representation against the rejection order was decided on 22.10.2003 by which letter the petitioner was informed that the Principal Secretary, Industries & Commerce Department, Punjab had rejected the appeal and had affirmed the order previously passed holding that the industrial policy does not allow grant of relaxation (P-9). Prayer has been made for quashing both these orders. ;