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Clarification regarding validity of exports made by using ineffective IEC number
Policy Circular No. 36 dated 3rd March 1998
Attention is invited to Para 15.4 of the Handbook of Procedures (vol. I) stipulating the provisions for change in the name, constitution and ownership of an IEC holder.
2. This office has received references from the office of DGFT, Rajkot seeking clarification regarding validity of exports/ imports by using IEC Number, which become reflective in terms of Para 15.4 of the Handbook of Procedures, (Vol. I).
3. In this connection, it Is hereby clarified that while deciding about the validity of exports / imports made by using such ineffective IEC number by such IEC holders the following points should be kept in view.
(i) If the changes are not got endorsed in the IEC within 60 days. Such IEC Nos. will automatically become ineffective & the IEC holder shall cease to be eligible to export and/ or import.
(ii) When the Regional Licensing Authorities get such cases, they should circulate the details of such IEC No. along with the name & address (in9luding branches) of such ineffective IEC holders to other ALAs, Customs Authorities & ABI.
(iii) The same person can apply for fresh IEC number, which can be decided by ALA as per policy.
(iv) For the interlude the exports & imports will become illegal and they will not be entitled for any such benefit whatsoever as may be prescribed under the policy & as such if any benefit claimed the ALAs/ Customs will initiate recovery proceedings.
4. This issues with the approval of Director General of Foreign Trade.
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