Provisions in FT (D&R) Act & FT (Regulation) Rules for necessary action against erring exporters/ importers

Action against erring exporters can be taken under the Foreign Trade (Development and Regulation) Act, 1992, as amended and under ForeignTrade (Regulation) Rules, 1993, as follows:-

(a) Section 8 of the Act empowers the Director General of Foreign Tradeor any other person authorized by him to suspend or cancel theImporter Exporter Code Number for the reasons as given therein.

(b) Section 9 (2) of the Act empowers the Director General of ForeignTrade or an officer authorised by him to refuse to grant or renew alicense, certificate, scrip or any other instrument bestowing financialor fiscal benefit granted under the Act.

(c) Section 9(4) empowers the Director General of Foreign Trade or theofficer authorized by him to suspend or cancel any License,certificate, scrip or any instrument bestowing financial or fiscalbenefit granted under the Act.

(d) Section 11(2) of the Act provides for imposition of fiscal penalty incases where a person makes or abets or attempts to make any importor export in contravention of any provision of the Act, any Rules or order made there or the Foreign Trade policy .