Change in corporate details and export authorisation denomination require prompt compliance; late filings face penalties and entitlement cuts. An IEC holder must notify changes in name, address or constitution within a prescribed period; delay may be condoned by the Regional Authority on payment of a penalty. Authorisations must state values in rupees and freely convertible currency and export obligations are discharged in specified currencies depending on the scheme. Late applications and supplementary claims attract prescribed percentage cuts. DGFT requires furnishing of information, maintenance of consumption registers, provides counter assistance and timebound disposal of applications, and maintains a grievance redress mechanism; the Director General may review subordinate records and decisions.
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Provisions expressly mentioned in the judgment/order text.
Change in corporate details and export authorisation denomination require prompt compliance; late filings face penalties and entitlement cuts.
An IEC holder must notify changes in name, address or constitution within a prescribed period; delay may be condoned by the Regional Authority on payment of a penalty. Authorisations must state values in rupees and freely convertible currency and export obligations are discharged in specified currencies depending on the scheme. Late applications and supplementary claims attract prescribed percentage cuts. DGFT requires furnishing of information, maintenance of consumption registers, provides counter assistance and timebound disposal of applications, and maintains a grievance redress mechanism; the Director General may review subordinate records and decisions.
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