Early Times Report
Jammu, Apr 23: In a petition filed by Akshay Trader Poonch & Ors seeking quashment of order bearing No. 121-IND of 2017, dated 31.05.2017 requiring the existing registered Traders to deposit Rs.5.00 lakh in the form of fixed deposit/guarantee, Justice Alok Aradhe of J&K High Court Jammu Wing after hearing Adv Abhinav Sharma with Adv SR Rather whereas Govt Advocate Sudesh Magotra for the state ordered that clause A(d) of Government order dated 31.05.2017, in so far as, it pertains to the traders who are already registered is hereby quashed.
Justice Alok Aradhe while quashing the order, observed that from perusal of the Government order it is evident that various safeguards have been incorporated in the order in order to prevent any mal-practice. However, there appears to be no rational behind the object of demanding the security deposit of Rs.5.00 Lac from the existing registered traders with the custodian, as the existing traders are already carrying on cross-LoC business. Thus, they have shown their financial commitment to carry on the cross-LoC business. Therefore, the justification offered that demand for furnishing the security/bank guarantee from the existing traders registered with the custodian to ascertain their financial commitment, as no logical basis and is, therefore, arbitrary and irrational. --(JNF) |
