TMI Blog2017 (1) TMI 787X X X X Extracts X X X X X X X X Extracts X X X X ..... ligation within 8 years as required - a change in the policy with regard to fulfillment of Export Obligation. Held that: - the petitioner has filed a representation dated 26.08.2016, which, as indicated above, is pending consideration with the EPCG Committee - I am inclined to direct the EPCG Committee to consider and dispose of the representation of the petitioner dated 26.08.2016, by way of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the EPCG licence was, inter alia, subject to the petitioner being obliged to export Vanaspati and Margarine, of a value, equivalent to US$ 602,064.27. This value was equivalent to five (5) times the CIF value of capital goods imported. The CIF value was calculated on FOB basis. The export obligation was required to be fulfilled within a period of eight (8) years. 4.2. Admittedly, the petitione ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... first instance, was on account of the ban on export of edible oil imposed by the Government of India vide notifications dated 17.03.2008 and 04.09.2009. 6. It is because of the failure on the part of the petitioner to fulfill the export obligation, that a show cause notice was issued, which was finally adjudicated upon vide order-in-original dated 16.01.2014. 6.1. Against the said order, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , having regard to the aforesaid facts and circumstances, I am inclined to direct the EPCG Committee to consider and dispose of the representation of the petitioner dated 26.08.2016, by way of a speaking order. 8.1. It is ordered accordingly. 8.2. The EPCG Committee shall, in this behalf, afford a personal hearing to the authorised representative of the petitioner, by issuing a written notic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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