Government of India
Ministry of Commerce and Industry
Directorate General of Foreign Trade
Udyog Bhawan, New Delhi
Circular No. 57 (RE-08)
New Delhi, the 15th January, 2009
To
All Regional Authorities
Subject: Return of Bank Guarantees submitted in lieu of Drug Manufacturing
Licence (DML) in terms of Public Notice No. 109 dated 17.11.2008 – Regarding.
Reference is invited to Public Notice No. 109 dated 17.11.2008 regarding
submission of DML for issue of EPCG Authorisation to Pharmaceutical units.
- The issue relating to the Bank guarantees/LUTs executed between the period
from 30.06.2008 to 17.11.2008 by pharmaceutical units in lieu of drug
manufacturing authorizations was raised in Port Officers’ Meeting held on
25.11.2008 wherein it was clarified that the Bank Guarantees/LUTs submitted to
RAs in lieu of submission of DML for obtaining EPCG authorizations may be
returned to the pharmaceutical units, upon obtaining an undertaking from such
units that they are required to submit DML within a period of three years from
the date of issue of EPCG authorisation.
- All RAs are, therefore, requested to kindly take necessary steps to return
the Bank Guarantees/LUTs so executed by pharmaceutical units upon furnishing of
undertakings that DML would be submitted within a period of three years from the
date of issue of EPCG authorization.
This issues with the approval of Director General of Foreign Trade.
(Akash Taneja)
Joint Director General of Foreign Trade
(Issued from F. No. 01/36/218/61/PC-V/EPCG-I)