TMI Blog2015 (12) TMI 320X X X X Extracts X X X X X X X X Extracts X X X X ..... ertakings of the Petitioner that it would furnish fresh bank guarantees in the sum demanded by the Customs in terms of the document/communication dated 31st August, 2015 addressed to the Chief Manager of State Bank of India, Industrial Finance Branch, 5 Sai Complex, Bharat Nagar, Nagpur and keep these bank guarantees alive till it obtains the Export Obligation Discharge Certificate within the extended time. The Petitioner would submit these bank guarantees for verification and scrutiny. Needless to clarify that the exporter would obtain the Export Obligation Discharge Certificate and submit the same to the Customs/Competent Commissionerate and avail of such benefits as are permissible in law. - Petition disposed of. - Writ Petition No. 955 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d at a concessional rate of customs duty, subject to an export obligation to be fulfilled by the importer on FOB basis equivalent to eight times the duty saved on the goods imported over a period of eight years reckoned from the date of the issue of the import licence. 4) We do not refer to this policy in further details, as the case of the Petitioner is that in order to meet its objectives, a Notification under section 25(1) of the Customs Act, 1962 being Notification No. 97 of 2004 dated 17th September, 2004 was issued, whereby, exemption has been granted to import capital goods at concessional rates of customs duty under the EPCG Scheme. The five licences obtained by the Petitioner, for import of plant and machinery for setting up of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t is how the Petitioner approached this Court. 6) An Affidavit in reply has been filed to this Petition, based on which, certain draft amendments have been proposed by the Petitioner. The draft of these amendments was handed over to Mr. Jetly in Court. Mr. Jetly has submitted that subject to just exceptions, the amendments could be granted. Accordingly, we permit the Petition to be amended in terms of the draft. The amendments to be carried out within a period of one week from today. 7) The affidavit in reply of the Deputy Director General of Foreign Trade states that while it is true that the Petitioner had availed of the EPCG Scheme and the extension would not be allowed till corresponding Customs Notification is issued in this rega ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the view that the Writ Petition can be disposed of in terms of the statements and undertakings of the Petitioner. We find that if the Petitioner is approaching for exercising an option as propounded and placed before us by the Director General of Foreign Trade itself, then, the request to enable them to avail of the same on the terms proposed by Mr. Nankani can be accepted. Meaning thereby, while granting liberty to the Petitioner to avail of the option in terms of para 5.11 of the Handbook of Procedure, 2009-14, we accept the undertakings of the Petitioner that it would furnish fresh bank guarantees in the sum demanded by the Customs in terms of the document/communication dated 31st August, 2015 addressed to the Chief Manager of State Bank ..... X X X X Extracts X X X X X X X X Extracts X X X X
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