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TMI BlogAmendment in Notification Nos 111/95 , 29/97, 49/2000, 44/2002 in relation to EPCG schemeX X X X Extracts X X X X X X X X Extracts X X X X ..... of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby directs that each of the notifications of the Government of India in the erstwhile Ministry of Finance (Department of Revenue), specified in column (2) of the Table annexed hereto, shall be amended or further amended, as the case may be, in the m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lue not less than Rs. 100 crores." the words and figures "having overall export obligation period of 12 years." shall be substituted. 2 29/97-Customs, dated 1 st April, 1997. In the said notification, in paragraph 2,- (i) in condition (2), for the second proviso, the following provisos shall be substituted, namely:- "Provided further that where a sick unit notified by the Board for Industrial a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rial and Financial Reconstruction (BIFR) is subsequently taken over by another unit for revival, the export obligation may be fulfilled within a period of 12 years from the date of issue of license: Provided also that export obligation of a particular block may be set off by the excess exports made in the said preceding block (s)."; (ii) in condition (6), in the proviso, for the words and figures ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aken over by another unit for revival, the export obligation may be fulfilled within a period of 12 years from the date of issue of license: Provided also that the export obligation of particular block may be set off against the excess exports made in the said preceding block (s);". (b) in condition (5), in the proviso, for the words and figures "where the CIF value of licenses is not less than Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7 and was lastly amended by notification No.113/2002-Customs, dated the 16 th October, 2002 vide GSR No. 704(E) dated the 16 th October, 2002. The principal notification No.49/00- Customs, dated the 27 th April, 2000 was published in the Gazette of India, Extraordinary vide GSR No. 365(E) dated, the 27 th April, 2000 and was lastly amended by notification No.113/2002-Customs, dated, the 16 th Octo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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