New Delhi: In a major setback for the government, the Delhi High Court on Thursday ordered all major departments and ministries of trade and commerce to present files pertaining to the process of decision making which allowed a handful of private star trading houses to import gold, reports Business Standard.
Hearing the case filed by Delhi Bullion and Jewellers Welfare Association (DBJWA), Justice Vibhu Bakhru ordered defendants including Ministry of Finance, Ministry of Commerce, Directorate General of Foreign Trade and others to file its reply with issues that prompted them to allow a handful of star trading houses to import gold into India. The court also ordered respondents to present all files pertaining to the decision making in six weeks.
The next hearing is scheduled on September23. Raising doubts over taking such decision in a hurry without addressing wider concerns – the current account deficit (CAD) – of the country, DBJWA had filed a writ petition in the Delhi High Court questioning the government’s intention for such decision.
DBJWA alleged that allowing a handful of startrading houses will benefit some jewellers while others will be debarred from availing gold.