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of <h1>DGFT Circular: Compliance with Settlement Commission Decisions on EO Default; Penalties Possible u/s 11 FTDR Act.</h1> The circular issued by the Directorate General of Foreign Trade addresses the compliance with decisions made by the Settlement Commission regarding customs duty and interest in cases of Export Obligation (EO) default. Licensing Authorities are instructed to comply with these decisions for regularization purposes and inform the Adjudicating Authority. However, the Adjudicating Authority retains the right to impose penalties under Section 11 of the Foreign Trade (Development & Regulation) Act, 1992, if deemed necessary. This directive has been approved by the Director General of Foreign Trade.
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