Shipment of pending export order

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 October 2012 Dear Sir ,

We have a pending export under for our company X. All foreign exchange remittances from the consignee has been received into the account of company X.

Now the company X has been recently amalgamated with our another company Y through court order. Excise Registration in the name of company X has been surrendered.

NOW CAN WE EFFECT THE SHIPMENT THROUGH COMPANY Y ON THE BASIS OF THE COURT ORDER.

PLEASE ADVISE URGENTLY.

Rama Krishnan

Rama Krishnan (Expert)
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25 October 2012 IF THE COMPANY IS LEGALLY AMALGAMATED, THEN THERE IS NO ISSUE IN EFFECTING EXPORTS THROUGH THE NEW AMALGAMATED COMPANAY.

EVEN IF YOU HAVE OBTAINED AN ADVANCE LICNECE AND HAVE CLEARED GOODS UNDER ZERO PERCENT DUTY, THEN ALSO THE EXPORT OBLIGATION CAN BE FULLFILLED THROUGH EXPORT FROM NEW AMALGAMATED COMPANY. IN SUCH CASES, YOU NEED TO INTIMATE DGFT AND OBTAIN CONSENT LETTER FOR E.O COMPLETION IN THE NAME OF NEW COMPANY

Querist : Anonymous

Querist : Anonymous (Querist)

25 October 2012 Desr Sir,

Thank you for the advise received in time.

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