Case Law Analysis
|Bombay High Court
Promissory Estoppel | State Cannot Retract Industrial Incentives After Inducing Investment : Bombay HC
The Bombay High Court held that once the state encourages industries to invest through a clear incentive scheme, it cannot later withdraw those benefits retroactively, even via a subsequent resolution. This reinforces the doctrine of promissory estoppel as a shield against arbitrary state conduct, protecting entrepreneurs who act in good faith on official assurances.