A new para has been added in Chapter 2 of Foreign Trade Policy 2015-20 for operational modalities to be followed for the cases referred to National Company Law Tribunal vide Public Notice No. 39/2015-2020 dated: 18th October, 2019.
Government of India
Ministry of Commerce and Industry
Department of Commerce
Directorate General of Foreign Trade
NEW DELHI: Dated the 18th October, 2019
In exercise of powers conferred under paragraph 1.03 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Director General of Foreign Trade makes the following amendment in Hand Book of Procedures 2015-2020.
A new Para no. 2.29A is added in Chapter 2 of Handbook of Procedure 2015-20 as under:
2.29 A Any firm / company coming under the NCLT proceedings shall make a summary of statement of outstanding export obligations/liabilities under the FTP schemes, indicating duty saved amounts and applicable interest till the date of start of proceedings before the National Company Law Tribunal (NCLT), any penalty imposed under FTD&R Act, any other dues such as fee etc., and submit the same to the RA concerned and to NCLT, before the start of NCLT proceedings as part of the statutory filings. The statement of consumption of inputs/procurement of capital goods, attested by chartered engineer/chartered accountant, shall also be submitted along with other documentary details of any partial fulfillment of Export Obligation claimed towards offsetting the duty saved amount.
3. Effect of this Public Notice: A new para has been added in Chapter 2 of Foreign Trade Policy 2015-20 for operational modalities to be followed for the cases referred to National Company Law Tribunal.
(Bidyut Behari Swain)
Director General of Foreign Trade &
Ex-officio Additional Secretary to Government of India
(Issued from File No.01l94/180/019/AM20/PC-4)