FTP - Export Obligation - Extended

By Vijay Kumar

GOVERNMENT has amended Foreign Trade Policy to insert a new para 5.5.1(c), which reads as:

5.5.1 (c): Wherever the holder of any EPCG Authorization is granted relief under Corporate Debt Restructuring (CDR), then such Authorization holder may be allowed EO extension of 3 years (from the date of approval of the CDR mechanism/scheme). Such extension in EO will not attract any Composition fee and will be in addition to (and not in lieu of) the granting of EO extension, if any, available under Para 5.11 of HBPv1.

DGFT Notification No. 70 (RE-2013)/2009-2014, Dated: February 20, 2014