Clarification Requested-Para 7.28 of Handbook of Procedures 1997 -2002 (Vol. 1) - Regularisation of bonafide default

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....Attention is invited to Para 7.28 of Handbook of Procedures (Vol.1) 1997-2002 wherein the Procedures to be followed in the cases of a bonafide default in fulfilment of export obligation for regularisation are laid down. - 2. Wool and Woollens Export Promotion Council have sought a clarification on calculation of rate of interest, that is, whether simple or compound interest is payable in terms ....