5.8.4

However, the licences issued under the scheme upto 31.3.2000 shall be governed by provisions laid down in paragraph 6.11 as given in Handbook (Vol.1) (RE-99). Notwithstanding the provisions in Handbook (Vol.1) (RE-99), the licence holder shall not have to surrender Special Import licence in case of valuewise shortfall.

Licences issued from 1st April, 2000 upto 31st March, 2002 shall be governed by the provisions of Chapter 6 of the Handbook (Vol 1) (RE-01) as amended from time to time.

Licences issued from 1st April, 2002 upto 31st August, 2004 shall be governed by the provisions of para 5.8 of the Handbook (Vol 1) (RE-02) as amended from time to time. However, the provision of clubbing even in case of old licences would be as per the current provision of para 5.18 of this Handbook.

However, wherever Customs duty is to be paid under EPCG scheme, on account of shortfall in export obligation for regularisation for bonafide default, the same shall be paid alongwith interest @15% per annum thereon. This facility shall be available to all pending cases of regularisation of EPCG licences irrespective of the date of its issuance".