Self write off export bills pending for more than 4 years

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This query is : Resolved

ANIT KEDIA (Querist)

28 August 2019 This is regarding the export of Wheat and Wheat Flour to Dubai, Singapore and Malaysia in (2013-2015) but unfortunately some of the buyer (importer) has not cleared their bills and their outstanding still remains in our books (exports were done in 2013 and 2014). The total outstanding amount is Rs. 1.9 crores.We had appointed MHA/MNS International Recovery agent for the recovery purpose but unfortunately after trying for several months through all possible means they had closed all our recovery cases and subsequently filed their closure reports. We had taken insurance coverage on three parties ( importers) through ECGC, out of three claims made, one claim in the name of M/s Pecuniary Marketing Sdn Bhd was approved and remaining two M/s Dragon Asian Bhd and M/s Ahmned Alslami Trdaing and Contracting L.L.C. were rejected. We had tried to recover the pending exports amount through all the possible means but were unsuccessful.

We had returned the entire export duty drawback claimed on the pending export bills along with the said interest.
We want to self write off the pending export bills as Bad Debts, as we had not made any exports after the 2016 so we are not in the position of writing export dues against the proceeds. We want to write off 25% exports as bad debts each year and write off it fully in 4 years and submitt the CA ceritificate to the bank stating the same , can we do that.
Also note,we had routed all the export documents directly to the buyer (importer) and hence were not routed through the bank but we had submitted all the export related documents to the Allahabad Bank within 20 days from the exports made.