9911796707
TMI Blog2015 (12) TMI 320X X X X Extracts X X X X X X X X Extracts X X X X ..... two dated 9th 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 Nagpur. The Petitioner has stated that it has referred to a policy styled as Foreign Trade Policy, 2009-14 formulated and announced in terms of the power under section 5 of the Foreign Trade Development and Regulation Act, 1992. That policy ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ties 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 for extension to fulfill the export obligation. That is how and on obtaining the certificate styled as Export Obligation Discharge Certificate that the Petitioner can avail of the concession in payment of customs duty. It is in these circumstances and stating that though the Customs have not issued a corresponding Notification, yet, the export promotion guarantee scheme in terms of Chapter V of the Foreign Trade Policy, 2009-14 enables the Petitioner to seek extension that the e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the Petitioners have the option to get the export obligation period extension under the provisions of para 5.11 of Hand Book of Procedures (2009-14)." 8) Mr. Nankani, learned Senior Counsel appearing for the Petitioner, on instructions, states that keeping the larger controversy alive and without prejudice to the rights and contentions of the Petitioner, it would exercise the option to get the export obligation period extension under the provisions of para 5.11 of the Handbook of Procedure, 2009-14. 9) The 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 P ..... X X X X Extracts X X X X X X X X Extracts X X X X
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