DGFT Policy Circular

Government of India http://dgft.gov.in/exim/2000/cir/cir08/cir5708.htm[2/15/2017 4:15:24 PM]   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.   2.         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.   3.         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)