EPCG redemption: Foreign exchange to be counted under FTP Chapter Five; Circular 25 is inapplicable to EPCG authorizations. Circular No. 25 (SFIS) is not applicable to the EPCG Scheme; EPCG authorizations are to be issued and redeemed under Chapter Five of the FTP and HBP Vol. I, and Regional Authorities must not apply the SFIS circular when counting foreign exchange earnings for EPCG redemption.
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Provisions expressly mentioned in the judgment/order text.
EPCG redemption: Foreign exchange to be counted under FTP Chapter Five; Circular 25 is inapplicable to EPCG authorizations.
Circular No. 25 (SFIS) is not applicable to the EPCG Scheme; EPCG authorizations are to be issued and redeemed under Chapter Five of the FTP and HBP Vol. I, and Regional Authorities must not apply the SFIS circular when counting foreign exchange earnings for EPCG redemption.
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