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2009 (7) TMI 140 - DELHI HIGH COURTAdvance Licence – Exim – foreign trade policy – revalidation of advance licence - The request for transferability was examined and was found to be in order and an endorsement to the same effect was made. The said endorsements were made on 1st November, 1993, 9th September, 1993, 27th September, 1993 and 25th August, 1993 respectively. - Subsequently, the petitioner applied for revalidation of the licences for an extended period. The request was rejected by the DGFT inter alia on the ground that “there is no such provision contained in EXIM Policy 1992-97 for revalidation of advance licences for which transferability has already been ordered.” – held that - Thus when a duty free licence is transferred, the validity of that licence is the balance period mentioned in the licence or six months, whichever is more. The words ‘date of transfer’ in sub-para (v) is the ‘date of transfer’ by the original holder of the licence to a third party. - Revalidated licences will be confined to the period mentioned in the licence itself - matter is remanded back to the DGFT to consider the request of the petitioner for revalidation of the licence in terms of para 125 of the Handbook of Procedure
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