EPCG BOND FORMAT:

UNDERTAKING BOND

THE PRESIDENT OF INDIA

ACTING THROUGH THE COMMISSIONER OF CUSTOMS,
CUSTOMS HOUSE

RAJAJI SALAI

CHENNAI 600 001.

By this bond we, M/s. Noor Leather Exports, No.14, I Floor, Adam Sahib Street, Royapuram, Chennai, T. Nadu 600 013   as the importer (which expression shall include its Successors, Heirs, Executors, Administrators and legal administrators and legal  Reprehensive) are held and firmly bound unto the president of India hereafter be held the president (which expression shall mean his successors and signs ) for the payment to him of the sum of Rs. 13,70,237.00  (Rupees Thirteen Lakhs Seventy Thousand Two Hundred & Thirty Seven Only).

Whereas the importer have requested at the time of clearance to the effect that the Leather Industry machinery   as per Licence at a specified premises  for Leather  Industry (Manufacturer Exporter ), whereas they have been allowed to import such machines fully described in the list of goods attested of EPCG license bearing No.0430009701/5/12/00 dt. 22.03.2011 at the concessional rate of @  0% duty subject to the terms and conditions specified in the customs notification No.102/2009 dt.11.09.09 customs in respect of goods imported and covered by the valid license issued on or after 17/09/2004 under EPCG Scheme subject to the conditions written hereunder.

Dated this day of  27^th April 2011.

Now the above written obligation is conditioned to do void in case the importer shall prove to the satisfaction of the commissioner of customs, within three months from the date hereof that the capital goods have been imported in accordance with the conditions specified under Para 5.8 of 2009 - 2014 have been complied with

AND IT IS HEREBY DECLARD AND AGREED THAT:

1. we submit that the goods imported and mentioned in the schedule hereunder are covered by valid EPCG license No. 0430009701/5/12/00 dt. 22.03.2011 issued in terms of in Para 5.8 of the export and import policy 2009-2014 permitting imported goods at the rate 0% duty and the said license will be produced for debit of the proper officer of customs at the time of assessment before clearance.

2. We hereby undertake to fulfill the export obligation equivalent to eight times of the duty saved announce of the goods imported or for such higher sum as may be fixed by the licensing authority with in a period of 6 (six) years from the date of issue of the said license in the following proportions:

SL. NO                   PERIOD FROM THE DATE                      PROPORATION OF

                             OF ISSUE OF LICENCSE            TOTAL E O IN PERCENTAGE

a)                            1^st and 4^th year                                                  50%

b)                            5^th and 6^th year                                                 50%

Provide that export obligation of a particular year/block may be set off by the excess exports made in the proceeding year / block

3. We herby also undertake to produce within thirty days of the expiry of each year/block from the date of issue of license from 5^th year or within such extended period as the Asst / Deputy Commissioner of Customs may allow, evidence to the satisfaction to Asst / Deputy Commissioner of Customs showing the extent of export obligation fulfilled and where export obligation of any particular block of 2 years is not fulfilled and where export obligation of (proceeding conditions, the  importer shall within three months from the said block pay duties of customs of an  amount equal to the proton of the duty liable on the goods but for the exemption contained herein which bears the same proportion as the unfulfilled portion of the export obligation together with at the rate of 15% interest per annum from the date of clearance of goods.

4. If the importer fails to discharge a minimum of 25% of the export obligation prescribed for any particular year / block for three consecutive years be liable to pay forth with, the whole of duties of customs livable on the goods imported but for the exemption contained in the notification together with interest at the rate of 15% per annum from the date of clearance of the goods.

5. On demand we will pay the liable, together with interest @15% per annum in case we fail to fulfill the export obligation with the stipulated time and in the manner as mentioned above.

6. This bond has been executed under the order of central government in which the public are interested.

7. Any amount becoming due by us under this bond may be recovered sub section (I) of Sec.142 of customs Act 1962 without prejudice to any other mode of recovery.

8. If the goods are used by the importers for purpose other than those specified in this bond, be shall be without prejudice to any liability that may liability that may incur also be liable to such penalties may be imposed by the Commissioner of customs under Customs Chennai under Customs Act 1962.

9. The above export obligation conditions shall be independent of any other export obligation condition imposed in letter of indent industrial license / foreign collaboration approval or any other export obligation. However if the exporter achieved export of 75% of the annual value of production of the relevant exports obligation under this scheme shall be sub summed under the export provided that the aggregative value of such exports during the specified period shall not be less than the aggregate value of export obligation fixed under Para 5.8 of exim policy 2009-2014.

10. Not withstanding anything contained above, irrespective of the export obligation period the bond shall be valid for a period of Seven years from the date of execution.

                                                    SCHEDULE

1.   BE No & Date                                          :                                              

2.   IM No & Line No                                     :

3.   BL NO & Date                                         :

4.   Vessel Name                                             :

5.   Description                                                :

6.   No of Packages                                         :

7.   Quantity & Weight                                   :

8.   Customs Tariff Heading                           : 84538000

9.   EPCG License No & Date                        : 0430009701/5/12/00 dt. 22.03.2011

10. Total EPCG License Value (duty saved) : Rs.13,70,237.00

11. CIF Value                                                 :

12. Assessable Value                                      :

13. % OF Merit Rate of duty                         : 7.5% + 10% + 3% + 3%+ 4% SAD

14. Duty amount on Merit                              : Rs.13,70,237.00

15. % On Concessional Rate of Duty             :  0% + 0%

16. Duty Amount at Concessional Rate         : 0

17. Difference in Duty                                    : Rs.13,70,237.00

18.  Bond Amount                                          : Rs.13,70,237.00

                                                                              Signature of Importer with seal

WITNESS:-

1.                                                               ACCEPTED FOR AND ON BEHALF OF 

                                                                       THE PRESIDENT OF INDIA

2.

                                                   The DEPUTY COMMISSIONER OF CUSTOMS                                                                                                        CHENNAI.