2.14 — Modification of IEC

(a) Modification(s)/Updation(s) in IEC can be done online only with applicable fees and requisite documents.

(b) Any change in constitution of firm, address, bank details or any other primary details, the IEC holder is required to ensure that the IEC details are suitably updated online within 30 days of effecting such change(s).

(c) Request for (i) Cancellation of existing IEC and (ii) PAN change in existing numeric IECs has to be made to the jurisdictional Regional Authority.

(d) RAs shall consider applications seeking modification in IEC (all numeric), involving change in PAN, by ensuring that liabilities of the previous applicant/applicant firm are transferred to the new applicant/applicant firm whose PAN will be reflecting in the modified IEC. (e) In case of change in constitution of a PAN based IEC by way of merger, acquisition, liquidation, inheritance, business transfer etc. such that PAN of the new entity so formed is different from the earlier one, an IEC shall be availed against the new PAN within 30 days of effecting such change, if not existing already. Previous IEC (s) can also be operationally linked to the IEC of the new entity.

(f) An application for transfer of unredeemed Authorisation(s) from earlier IEC to the new IEC may be submitted online to the original jurisdictional RA along with supporting documents. Concerned RA may sanction the given linkage after due scrutiny of the evidence provided by the applicant including submission of affidavits etc.