New Delhi, Oct 21 (KNN) The Directorate General of Foreign Trade (DGFT) has said that the firms or companies, under the adjudication proceedings before the National Company Law Tribunal (NCLT), should inform the concerned authority as well as the NCLT of any outstanding export obligations or liabilities under any of the schemes under Foreign Trade Policy.

This a new para which has been added in Chapter2 of Foreign Trade Policy 2015-20 about the cases referred to the National Company Law Tribunal.

According to the new para, “Any firm / company coming under the adjudication proceedings before the National Company Law Tribunal (NCLT) shall inform the concerned Regional Authority (RA) and NCLT of any outstanding export obligations/ liabilities under any of the schemes under FTP.”  

The total outstanding duty saved   amount/ dues along with interest, and any penalty imposed under FTD&R Act, or any other dues, shall be counted as part of the dues to the government against the said firm / company. (KNN Bureau)

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