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DGFT Hand Book of Procedures Foreign Trade Procedure (upto 07/04/2005) PARA 5.17

Penal Action

5.17

In case of failure to fulfil the export obligation or any other condition of the licence, the licence holder shall be liable for action under the Foreign Trade (Development & Regulation) Act, 1992, the Orders and Rules made thereunder, the provisions of the Policy and the Customs Act, 1962.

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