Customs broker's license revocation overturned; security deposit forfeiture and penalty upheld due to KYC verification failures.

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....Revocation of customs broker Licence - the customs broker should have exercised a due diligence in verifying KYC norms and the identity of the exporter and their persons and could have found out the difference in the name of the exporter. However, for this purpose, revocation of licence is not warranted. - The forfeiture of security deposit and imposition of penalty upheld - the revocation of licence set aside.....