Contravention of foreign trade rules: enhanced penalties, recovery measures and confiscation with redemption on payment. Contravention of the Foreign Trade (Development and Regulation) Act, its rules, orders or foreign trade policy attracts penalties of not less than ten thousand rupees and up to five times the value of the goods, services or technology concerned; similar penalties apply for knowingly false or forged declarations. The Adjudicating Authority may determine settlement amounts; unpaid penalties are recoverable by deduction, customs detention or sale, recovery as an arrear of land revenue, or detention and sale of property. The Importer Exporter Code may be suspended and goods or conveyances are liable to confiscation, subject to release on payment of redemption charges.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Contravention of foreign trade rules: enhanced penalties, recovery measures and confiscation with redemption on payment.
Contravention of the Foreign Trade (Development and Regulation) Act, its rules, orders or foreign trade policy attracts penalties of not less than ten thousand rupees and up to five times the value of the goods, services or technology concerned; similar penalties apply for knowingly false or forged declarations. The Adjudicating Authority may determine settlement amounts; unpaid penalties are recoverable by deduction, customs detention or sale, recovery as an arrear of land revenue, or detention and sale of property. The Importer Exporter Code may be suspended and goods or conveyances are liable to confiscation, subject to release on payment of redemption charges.
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