WHEREAS in the matter of import of Hard Ferrite Ring Magnets, falling under Chapter 85 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, China P.R., the Designated Authority vide its preliminary findings, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 1st April, 1999 had come to the conclusion that -

(a)     Hard Ferrite Ring Magnets originating in, or exported from, China P.R. has been exported to India below normal value, resulting in dumping;

(b)       the Indian industry has suffered material injury;

(c)       the injury has been caused cumulatively by the imports from the subject country;

AND WHEREAS on the basis of the aforesaid findings of the Designated Authority, the Central Government had imposed an anti-dumping duty vide notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 54/99-Customs, dated the 4th May, 1999 [G.S.R. 307 (E), dated the 4th May, 1999], published in Part II, Section 3, Sub-section (i) of the Gazette of India, Extraordinary, dated the 4th May 1999;

AND WHEREAS the Designated Authority vide its final findings, dated the 12th July, 1999, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 12th July, 1999, had come to the conclusion that -

(a)     Hard Ferrite Ring Magnets originating in, or exported from, China P.R. has been exported to India below normal value;

(b)       the domestic industry has suffered material injury;

(c)     the injury has been caused to the domestic industry by the dumping of the subject goods originating in, or exported from, China P.R.;

AND WHEREAS on the basis of the aforesaid findings of the Designated Authority, the Central Government had imposed an anti-dumping duty vide notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 103/99-Customs, dated the 6th August, 1999 [G.S.R. 580 (E), dated the 6th August, 1999], published in Part II, Section 3, Sub-section (i) of the Gazette of India, Extraordinary, dated the 6th August, 1999;

AND WHEREAS the designated authority vide its final findings in review, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 23^rd October, 2001 has come to the conclusion that �

(a)     the subject goods exported from the subject country have been exported to India below its normal value;

(b)     the domestic industry has suffered material injury by way of depressed Net Sales Realization (NSR) on account of price suppression caused by low landed prices of the dumped subject goods from the subject country leading to financial losses;

(c)     The injury has been caused to the domestic industry by dumping of the subject goods originating in or exported from the subject country. The authority recommends anti-dumping duty on imports of all forms/grades of subject goods falling under Chapter 85 originating in or exported from the subject country. HFRM of any grade with sizes as indicated in para B(A) (3) of the said findings would attract the anti-dumping duties;

(d)     It is also felt that withdrawal/discontinuance of anti-dumping duty will further accentuate dumping and consequential injury to the domestic industry;

Now, therefore, in exercise of the powers conferred by sub-sections (1), (5) and (6) of section 9A of the said Customs Tariff Act, read with rule 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government, after considering the aforesaid findings of the designated authority, hereby imposes on the Hard Ferrite Ring Magnets mentioned in column (3) of the Table below, falling under sub-heading No. 8505.19 of the First Schedule to the said Customs Tariff Act, originating in, or exported from, China P.R., exported by the exporters mentioned in column (2) of the said Table and imported into India, an anti-dumping duty at a rate which is equivalent to the difference between the amount mentioned in column (4) of the said Table and the landed value of the said imported Hard Ferrite Ring Magnets per metric tonne.

2.      The anti dumping duty imposed under this notification shall be effective up to and inclusive of the 3^rd day of May 2004, unless the time limit is extended or the notification is revoked before such time, by notification published in the Official Gazette and shall be paid in Indian currency.