Extension of Export Obligation Period Subject to Discretion of Policy Relaxation Committee or DGFT; Unforeseen Hardship Required.

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....Extension of export obligation period - It is also well settled that the relaxation of the policy is not a matter of right - Sufficient discretion is granted to the PRC/DGFT to relax any provision of the policy or procedure as it deems fit - applicant must establish that his cause of hardship is on account of circumstances, which could not be reasonably anticipated by a person engaged in the trade....