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2015 (12) TMI 320 - BOMBAY HIGH COURT

2015 (12) TMI 320 - BOMBAY HIGH COURT - 2016 (331) E.L.T. 185 (Bom.) - Exemption to import capital goods at concessional rates of customs duty under the EPCG Scheme - Held that:- 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 pro .....

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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. 9551 of 2015 - Dated:- 23-11-2015 - S. C. Dharmadhikari A .....

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th April, 2015 and one dated 17th April, 2015 issued by Respondent No. 4. 2) The parties to this Petition and particularly the Party Respondents are Union of India, Deputy Commissioner of Customs, Nhava Sheva - IV, the Commissioner of Customs at Nhava Sheva and Nagpur and the Joint Director General of Foreign Trade. 3) The Petitioner states that it is engaged, inter alia, in the manufacture and export of newsprint/kraft papers, writing and printing papers etc. and has set up a paper mill at Nagp .....

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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 c .....

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s in favour of Respondent No. 2, the details of which are set out in Annexures E1 to E4. The licences' copies are at Annexure 'D' to the Petition collectively. 5) The Petitioner points out the financial and other difficulties and which did not enable it to fulfill the export obligation. It relies upon certain corporate debt restructuring package. The Petitioner then relies upon the amendment to Chapter V of the Foreign Trade Policy and submits that it would be in a position to apply .....

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sought, but before any decision thereon could be taken, the Customs have invoked the bank guarantees by addressing a letter to the concerned banks. That 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. Accor .....

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, this is what is stated:- "7. I say that new Foreign Trade Policy 2015-20 has also been issued vide Notification No. 01/2015-20 dated 1st April, 2015 wherein also this facility of export obligation period extension under Corporate Debt Restructuring (CDR) scheme has not been allowed and therefore the request for export obligation period extension under Corporate Debt Restructuring (CDR) in three EPCG authorisations mentioned in para No. 2 above cannot be accepted. I say that the Petitioner .....

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he Petitioner would also, till such time as its application/request is considered in terms of this para, submit and furnish fresh bank guarantees in the sum demanded by the Customs and which bank guarantees would be kept alive till the Petitioner obtains the Export Obligation Discharge Certificate from the competent authority. 10) Having heard both sides on this limited request, we are of the view that the Writ Petition can be disposed of in terms of the statements and undertakings of the Petiti .....

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