Exit from EOU scheme cannot be denied for procedural formality: HC

Ozone Properties Private Limited Vs Director, STPI (Karnataka High Court) Petitioner admittedly made an application seeking for exit from EOU/STPI scheme and it was its specific case that it had not imported any capital goods or procured any capital goods in respect of project. The clause relating to exit from the scheme does not entitle the authority to reject the application on the ground that the periodical performance report had not been furnished. In this case, the authority has in fact stated that the petitioner did furnish the IT park progress report as per its email dated 10.06.2009. T...