NEW DELHI: The Commerce Ministry has taken action against 1,271
companies for misusing facilities under the export promotion scheme
during the last three years, Parliament was informed.
For misuse of facilities, companies have been denied further facilities
under the export promotion scheme, their importer exporter code (IEC)
has been cancelled/suspended, financial penalty imposed, and recovery
proceedings initiated, Commerce and Industry Minister Piyush Goyal said
to Lok Sabha.
"Action for misuse of facilities under Export Promotion Scheme during
the last three years has been taken against 1,271 companies by
Directorate General of Foreign Trade," he said.
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