Trade Notice 15 dated 10th August, 2011
Subject : Final list of defaulters for failure to export of cotton in terms of Policy Circular No. 09 dated 29.12.2010 and Trade Notice No.01 dated 10.1.2011.
Attention is invited to Trade Notice No. 11 dated 29.06.2011 through which 178 firms were declared defaulters in export of cotton in terms of Policy Circular No. 09 dated 29.12.2010.
2. In this Trade Notice (para 4) it was provided that the concerned exporters may approach the RC issuing Authorities within 3 days alongwith all necessary documents for rectification of error if any. The concerned RAs would verify the documents and do rectification if required. After issue of Trade Notice No. 11 of 29.06.2011, many exporters have submitted the documents with RC issuing authorities. These have been verified. After verification, 61 firms have not been found to have defaulted. Accordingly their names have been removed from the list. The list of remaining defaulters is annexed with this Trade Notice.
3. 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.
4. The 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 defaulters.doc List of 117 firms with IEC Code.
Deputy Director General of Foreign Trade
(F.No : 01/91/180/1194/AM10/EC)