DGFT – Removal of names of the firms from list of defaulters for failure to export of cotton

Trade Notice 22,  dated 22^nd November, 2011

Subject : Removal of names of the firms from   list of defaulters for failure to export of cotton.

Attention is invited to Trade Notice No. 15 dated 10.08.2011 through which 117 firms were declared defaulters in export of cotton in terms of Policy Circular No. 09 dated 29.12.2010 read with Trade Notice No. 11 of 29.06.2011.

2.   In Trade Notice No. 15 dated 10.08.2011 (para 3) it was provided that the exporters whose name appear in the Annexure-1 of this Trade Notice may approach the concerned RC issuing authority within 15 days along with all necessary documents for re-verification of documents.  Para 4 of this Trade Notice provided that exporters can get their names removed from the list by paying penalty with the concerned RAs.

3.   After verification of documents and payment of penalty by respective firms with the concerned RAs, the names of the  firms as per Annexure-1 of this Trade Notice are removed from the defaulters list.

4.        The remaining firms who have exported beyond tolerance limit of + or – 5%, have option to get their names removed from the defaulter list by paying a penalty of Rs. 10,000/- + 1% of value of shortfall in excess of the allowance of 5%, with the concerned RAs.

Annexure-1_list of firms removed from defaulters list.doc  List of 48 firms with IEC Code.

(Daya Shankar)

Deputy Director General of Foreign Trade

E-mail: [email protected]

(F.No : 01/91/180/1194/AM10/EC)