2009 (7) TMI 140

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....  P/L/2051053, dated 20-5-93  ADV Lic/UDES/851/AM-93/ALS1 CLA 2.  P/L/2051054, dated 20-5-93  ADV Lic/UDES/1185/AM-93/ALS1 CLA 3.  P/L/2051674, dated 6-7-93  ADV Lic/UDES/1490/AM-93/ALS1 CLA 4.  P/L/2050763, dated 14-5-93  ADV Lic/UDES/340/AM-93/ALS1 CLA 5.  P/L/2051511, dated 30-6-93  ADV Lic/UDES/294/AM-94/ALS1 CLA 6.  P/L/2051545, dated 15-7-93  ADV Lic/UDES/59/AM-94/ALS1 CLA 2. The petitioner made a request for endorsement of transferability of four licences namely, P/L/2051053, dated 20-5-93, P/L/2051054, dated 20-5-93, P/L/2051674, dated 6-7-93 and P/L/2050763, dated 14-5-93. Transferability of four licences was under para 12....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....obligation has been fulfilled, export proceeds realized and the BG/LUT redeemed and subject to fulfillment of other conditions as laid down in paragraph 67 of the Policy and Paragraph 126 of the Handbook of Procedures, the value based/quantity based licence holder may transfer :- (a) The licence in full if no imports have been made; (b) The licence in part excluding the quantity and valud of imports already made; and (c) The materials or the balance thereof already imported. (ii) x x x x x (iii) x x x x x (iv) x x x x x (v) Duty free licences on the date of transfer shall be valid for the balance period of their validity of six months, whichever is more, provided no revalidation has been availed; and (vi) x x x x x "....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of transfer' by the original holder of the licence to a third party. Sub para (v) fixes and prescribes the validity period on the basis of date of transfer of the duty free licence to a third party. On transfer a duty free licence in the hands of the third party is valid for the balance period mentioned in the licence or six months from the date of transfer, whichever is later. It further provides that in such cases no revalidation should have been availed of. In other words, where revalidation has been availed of benefit of six months will not be applicable. The benefit of extended validity of six months will not be applicable. Revalidated licences will be confined to the period mentioned in the licence itself. In view of the aforesaid po....