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of <h1>Warehouse custodianship and Customs Area designation extended to 31.01.2022; Rs.8.64 crore bond and Rs.15 crore insurance required</h1> M/s LCL Logistix (India) Private Limited's custodianship and designation of its Haldia premises as a Customs Area is extended until 31.01.2022, with the operative effect that the company continues to act as Custodian and Customs Cargo Service Provider until that date subject to suspension, revocation or review. A security bond of Rs. 8,64,00,000 is required to be executed for safekeeping, storage and transshipment of import/export cargo, with the operative effect that liability exposure is secured and bond quantum may be reviewed. Submitted insurance of Rs. 15 Crore must be maintained subject to periodic satisfaction by the customs authority, and the Custodian remains liable for loss from fire, theft or accidents and must indemnify the customs authority for damages per HCCAR 2009; compliance with the Customs Act and HCCAR 2009 is mandatory.
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