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Subsidiaries of Export Houses - Joint Bond facility extended - Customs - 123/95

Extract

..... e available to them under Circular No. 52/ Customs & 97/ 95 Customs issued from F.No. 605/75/95- DBK. It has been represented by the representationist that such facility will be in conformity with the provisions of para 103(i)(d) of the Handbook of Procedures Volume- I. The matter has been considered by the Ministry and it has been decided to exited the benefit of joint bond/ bank guarantee which shall be signed both to the parent company as well as the subsidiary company holding the licence .....

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Subsidiaries of Export Houses - Joint Bond facility extended - Customs

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..... other words the parent company will be severally are jointly liable for the action in terms of the bond/ bank guarantee jointly executed by them. The above instructions will apply Mutatis Mutandis both to Duty Exemption Scheme and EPCG Scheme. A Standing order for the guidance of the departmental officers and a Public Notice for the benefit of the trade may kindly be issued. A copy of SO/ PN issued on this behalf may be sent to the Commissioner (DBK) and DGI ACC & E. In case of any difficult .....

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Subsidiaries of Export Houses - Joint Bond facility extended - Customs

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