Garg Acryclics LTD vs. UOI

W.P.(C)/7933/2011HC DelhiGSTCNR DLHC01162061201104 July 2022Bench: HON'BLE MR. JUSTICE C.HARI SHANKAR150 pages

For Petitioner: Ms. Diya Kapur, Mr. Arjit Benjamin, Mr. Abhishek Grover and Mr.Mayank Kamra, AdvsFor Respondent: Mr. Vivek Goyal, CGSC with Mr. Umesh Sharma, Assistant Director with Mr. Satish Kumar, Assistant in the office of Textile Commissioner

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Held

The Court held that the earlier TUFS was not legally discontinued after June 30, 2010, and the Ministry of Finance's rejection was unsustainable. The petitioner is entitled to TUFS benefits until April 28, 2011.

Facts

The petitioner sought benefits under the Technology Upgradation Fund Scheme (TUFS). The Ministry of Finance rejected the petitioner's claim for benefits during a 'blackout period' stating investments were made when the scheme was not in operation.

Key Issues

Whether the petitioner was entitled to benefits under the TUFS during the 'blackout period' and if the Ministry of Finance's rejection was legally valid.

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Cause title — parties, addresses and appearances

W.P.(C) 7933/2011 Page 1 of 150 $~ * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on: 10th May, 2022 Pronounced on: 4th July, 2022 + W.P.(C) 7933/2011 GARG ACRYCLICS LTD ..... Petitioner Through: Ms. Diya Kapur, Mr. Arjit Benjamin, Mr. Abhishek Grover and Mr.Mayank Kamra, Advs. Versus UOI ..... Respondent Through: Mr. Vivek Goyal, CGSC with Mr. Umesh Sharma, Assistant Director with Mr. Satish Kumar, Assistant in the office of Textile Commissioner CORAM: HON’BLE MR. JUSTICE C. HARI SHANKAR %

J U D G M E N T 04.07.2022

The Dispute

With a view to incentivize specific sectors of the textile industry, the Ministry of Textiles, vide Resolution No. 28/1/99-CTI dated 31st March, 1999, introduced the Technology Upgradation Fund Scheme (TUFS), which, in substance, provided 5% reimbursement of the interest charged by financial institutions identified in the TUFS, on This is a digitally signed Judgement. NEUTRAL CITATION NO: 2022/DHC/0023

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