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The Policy amendment announced vide Notification No. 17 dated 1.9.1998 regarding calculation of average export obligation under EPCG Scheme by excluding the exports effected towards fulfilment of export obligation against any EPCG licence shall be applicable in respect of any EPCG licence redeemed / to be redeemed on or after 1.9.1998.
Circular No. 434/67/98-CX The Hon”ble Supreme Court in its order dated 5th November, 1996 in case of UOI vs. Punjab Rubber & Allied Industries and Other in CA No. 4348/1984 set aside the order of Punjab and Haryana High Court in Civil Writ No. 4459 of 1980 filed by the Respondents
