Export obligation fulfilment criteria in the case of bonding of an EPCG licence holder under the EOU scheme

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....TRADE CIR. NO. 7 (RE 2003)/2002-2007 , DT. 16/06/2003 The meeting of the Policy Review Committee on 18th August, 1999 had decided that in the case of a bonding of an EPCG licence holder under the Export Oriented Unit (EOU) scheme wherein the EPCG licence was issued on or after 5th June, 1995 , the Bank Guarantee ( BG) executed under the EPCG scheme would be redeemed only if the EPCG lic....

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....ion would be imposed that the export obligation as per the EPCG licence criteria would be fulfilled by the unit within the stipulated period (inclusive of any extensions). For example in the case of EPCG licences issued under Customs Notification No 111/95, there is a provision for grant of EO extension of two years of any block(s) or the overall export obligation period. Hence at the time of b....