(1) WE have heard Sri K.T.S. Tulsi, learned Additional Solicitor General for the petitioner and Sri K. Parasaran, learned senior counsel for the respondent-caveator exporter. (2) ON a consideration of the matter, we are persuaded to the view that the High court was in error in permitting the export of the entire stock of sandalwood which was in different sizes and forms. Learned Additional Solicitor General rightly submits that the authorities have no objection to the export of 100 bags [out of the 400 bags sought to be exported] which contain sandal-wood "flakes" and "chips" of a weight of less than 50 grams per piece for which petitioners have a valid export licence. This is indicated in para 4; page 40 of the paper-book. The rest of the 300 bags which contain solid pieces of heartwood of weight very much higher than 50 grams per piece (says learned Additional Solicitor General), cannot be permitted to be exported (3) WE think that the point is well taken. The interlocutory order of the High court permitting export of the entire stock is not justified and the bank guarantee cannot substitute for exportability under the policy regulating and guiding exports. The interlocutory order of the High court is, accordingly, set aside. However, the respondent shall be entitled to export the 100 bags referred to above. (4) WE are told that the respondent has filed a statutory appeal and his writ petition is also pending. We request the High court to dispose of the writ petition as early as possible and, in any event, not later than eight weeks from today. The High court will also consider the objections of the Revenue as to the maintainability of the writ petition. (5) WE direct the Customs, Excise & Gold (Control) Appellate tribunal to dispose of the appeal of the respondent within two months from today. (6) THE special leave petitions are finally disposed of accordingly.