I.D.
END TERM EXAMINATION, NOVEMBER 2017
B.A.LL.B. (HONS.)
SEMESTER-VII IX
T&I (Hons.-I) NRIT
Max. Marks: 60 Time Allowed: 3:00 Hrs.
Note: Answer five questions including Question No. 1 which is compulsory. The number of marks carried by each question is indicated at the end of the question.
1. Answer the following (each answer should be in approximately 100 words): (Marks 2×10=20)
a. What do you understand by the general restrictions on exports with reference to Foreign Trade Policy 2015-20?
b. Why DGFT is known as a facilitator of exports/imports under Foreign Trade Policy?
c. What do you understand by Res extra commercium?
d. What is the role of Export Inspection Councils in India?
e. What do you understand by Direct Exporting and Indirect Exporting?
f. Discuss the differences between Licensing and Franchising.
g. What do you understand by De-bonding with reference to EOUs? How it is related with NFE criteria?
h. Comment on the advisory bodies under the administrative control of Department of Commerce, GOI.
i. What is the object and legal basis of current Foreign Trade Policy?
j. Comment on Foreign Venture Capital and its regulation in India.
2. In the case of Amar Chandra Chakraborty v. Collector of Excise decided by the Hon'ble Supreme Court of India it was observed by Justice I.D. Dua that, "in the determination of reasonableness of restrictions on trade or business regard must be had to its nature, the conditions prevailing in it and its impact on the society as a whole. These factors must inevitably differ from trade to trade and no general rule governing all trades or businesses is possible to lay down. The right to carry on lawful trade or business is subject to such reasonable conditions as may be considered essential by the appropriate authority for the safety, health, peace, order and morals of the society."
In the light of abovementioned observation write an explanatory note on the Fundamental Right to Trade with restrictions over it in Indian scenario. (Marks 10)
3. Justice Swatantra Kumar in the case of Competition Commission of India v. SAIL observed that, "the rationale of the free market economy is that the competitive offers of different suppliers allow the buyers to make the best purchase. The motivation of each participant in a free market economy is to maximise self-interest but the result is favourable to society. As Adam Smith observed there is an invisible hand at work to take care of this."This observation is applicable at domestic as well as international level from trade and commerce point of view, in context of specialisation. In the light of this observation critically analyse the theory of absolute advantage and comparative advantage. (Marks 10)
4. On securing Rank 100 out of 190 economies in the World Bank's Ease of Doing Business global rankings, Annette Dixon, World Bank Vice President, South Asia announced World Bank's stamp on the reforms initiated by Prime Minister Narendra Modi. She said, "India stands out this year as one of the 10 economies that improved the most in the areas. The alone country in South Asia and even the BRICS to do that." In this background write a descriptive note on the salient features of Foreign Trade Policy 2015-20. (Marks 10)
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5. Discuss the following: (Marks
a. Write a descriptive note on the import and export procedure under the Customs Act, 1962.
b. Write a descriptive note on the salient features of Foreign Exchange and Management Act, 1999.
6. 'SEZ is basically an enclave of Units operating in a distinct area within the geographical boundary of a Nation where specific economic activities are promoted by set of policy and regulatory measures.'
In this background write a descriptive note on the legal framework for Special Economic Zones in Indian scenario and also discuss the key issues still to resolve related with it. (Marks 10)
7. The main aim of current Foreign Trade Policy is to increase export and for this the objective of the Export Promotion Capital Goods Scheme (EPCG) is to facilitate import of capital goods for producing quality goods and services to enhance India's export competitiveness. In this background write an analytical note on the Export Promotion Capital Goods scheme and relevant case laws.
(Marks 10)