EOUs / EPZ / EHTP / STP Units- Reliefs in Execution of B-17 Bond

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... I am directed to refer to Board's Circular No. 14/ 98-Cus. dated the 10th March, 1998 as modified by Circular No. 42/ 98 - Cus dated the 19th June, 1998 on the above subject. 2. It has been represented by different Association that the B-17 bond with full surety or bank guarantee of 5% of the bond amount, instead of simplifying the procedure has made operations of the unit more expensive d....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....y for the revised bond amount or furnish 5% of the bond amount as bank guarantee or any other approved government security. It is further decided that the solvency of sureties, may also be certified by a Chartered Accountant or the Bankers of the surety. And, since in the law, a Limited Company is distinct legal entity and the Members of the Company, including the Directors are distinct from the C....