Ineffective IEC numbers render exports and imports ineligible, prompting invalidity and recovery proceedings for any benefits claimed. Exports and imports effected under an ineffective IEC-arising when changes in name, constitution or ownership are not endorsed within sixty days under Para 15.4-are invalid; the IEC holder ceases to be eligible to export/import, RLAs must circulate details of such ineffective IECs to other RLAs, Customs and the banking authority, and any benefits claimed for transactions during the interlude are subject to recovery. A fresh IEC may be applied for and decided by the RLA under policy.
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.
Ineffective IEC numbers render exports and imports ineligible, prompting invalidity and recovery proceedings for any benefits claimed.
Exports and imports effected under an ineffective IEC-arising when changes in name, constitution or ownership are not endorsed within sixty days under Para 15.4-are invalid; the IEC holder ceases to be eligible to export/import, RLAs must circulate details of such ineffective IECs to other RLAs, Customs and the banking authority, and any benefits claimed for transactions during the interlude are subject to recovery. A fresh IEC may be applied for and decided by the RLA under policy.
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