Default in Realization of Export proceeds against DEPB - DGFT - 17/2002

Default in Realization of Export proceeds against DEPB. TRADE NOTICE NO. 17/2002 Dated 01/01/2003 From 1.4.1997 and onwards, as per the relevant policy, a large number of DEPBs' were issued even prior to realization of export proceeds. However, in all such cases realization had to take place and proof thereof had to be submitted to the Licencing Authority within six months from date of exports. On monitoring of these files it has been found that a large number of exporters have not yet submitted the proof of realization. Therefore, it has been decided to give a time up-to 31.1.2003 to all concerned exporters to submit relevant proof of realization file wise, in the format given in Trade Notice No.20 dated 4.3.2002, failing which they shall be declared as defaulter without any further notice or warning. This may lead to stoppage of issuance of all fresh licences and freezing of IEC at Customs' end. To avoid the inconvenience, all exporters concerned are directed to submit the proof of realization at the earliest and obtain a closure memo from our office against such files, which will otherwise be considered pending. (SANJAY LUNIA) JT. DIRECTOR GENERAL OF FOREIGN TRADE,MUMBAI. Proforma of Bank Certificate Name of the firm/Company : JDGFT File No: DEPB Number and Date : S.No. Bank Certificate Reference No Shipping Bill Number and date Amount Realised in Free Foreign Exchange Amount Realised in Indian Rupees Whether full amount has been realised interms of Free foreign Exchange. State YES/NO Date of Realisation Exporters Signature : Bankers Signature : Name of the Signatory : Name of the Signatory : Designation : Designation : Telephone No : Telephone No.: Official seal: