Monitoring of Export Obligation

4.67

The Regional Authority, with whom the undertaking is executed by the DFIA holder, shall maintain a proper record in a master register indicating the starting and closing dates of obligation period and other particulars to monitor the export obligation.

Within two months from the date of expiry of the period of obligation, the certificate holder shall submit requisite evidence in discharge of the export obligation in accordance with Paragraph 4.68 [OLD- paragraph 4.25] of this Handbook.

(In above sub-paragraph words and figures "Paragraph 4.68" has been substituted vide PN. NO. 09/2006, DT. 18/05/2006)

However, in respect of shipments where six months period (one year in case of status certificate holder) for realisation of foreign exchange has not become due, the Regional Authority shall not take action for non submission of bank certificate of exports and realisation provided the other document(s) substantiating fulfillment of Export Obligation have been furnished.

In case the Authorisation holder fails to complete the export obligation or fails to submit the relevant information/ documents, the Regional Authority shall take action by refusing further authorisations, enforce the condition of the authorisation and undertaking and also initiate penal action as per law.