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of <h1>EPCG License Holders Get Export Obligation Extension Until March 31, 2002; Apply by June 29, 2001.</h1> The circular issued by the Director General of Foreign Trade extends the export obligation period for EPCG license holders who failed to meet their obligations within the original timeframe. Eligible license holders can apply for an extension until March 31, 2002, by submitting a Bank Guarantee covering customs duty and 24% interest on unfulfilled obligations. Applications must be filed by June 29, 2001, with the original licensing authority. Extensions are not granted in cases of fraud or where adjudicating orders exist. If obligations remain unmet and the extension is not utilized, adjudication proceedings will commence after June 29, 2001.
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