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A6 EXCISE LAW TIMES [ Vol. 372

Restrictions on export of 13 APIs and 13 Formulations imposed vide
Notification No. 50 - Exports allowed against Advance Authorisation scheme
subject to conditions. — In view of the representations received from exporters
regarding difficulties being faced by them in fulfilling export obligations under
Advance Authorization scheme subsequent to the issuance of Notification No.
50, dated 3-3-2020 restricting export of 13 APIs and 13 formulations, the DGFT
has decided that exports of all formulations for ITC HS Codes falling under
Chapter 30 in the Notification No. 50, dated 3-3-2020 shall be allowed under the
Advance Licenses issued on or before the date of Notification (3-3-2020). —
D.G.F.T. Policy Circular No. 34/2015-20, dated 20-3-2020. (See page E20)
Urad - Import of Urad under Quota Restriction - Policy condition
revised. — The Central Government has notified the Import Policy of items of
Chapter 7 of the ITC (HS), 2017, Schedule-1 (Import Policy) to allow import of 4
Lakh MT of Urad from 1-5-2020 to 31-3-2021. The notification dated 18-12-2019
read with its Corrigendum, dated 24-12-2019 and DGFT’s Trade Notice No.
54/2019-20, dated 3-3-2020 extending the date of import upto 30-4-2020 in re-
spect of import of Urad for the year 2019-20 will be implemented separately. —
M.C. & I. (D.C.) Notification No. S.O. 1122(E), dated 17-3-2020. (See page E5)
Corona Virus - Steps taken by DFS due to Disruption on account of
Corona Virus. — The D.G.F.T. has informed that the Department of Financial
Services (DFS) has issued instructions in view of situation arising due to Corona
Virus to all Public Sector Banks (PSBs) to immediately set up special cells to pro-
vide full assistance required to industry segments and MSME units affected by
Corona Virus and to inform customers so that their funds can be remitted with-
out any problems due to procedural deficiencies. Insurance Regulatory and De-
velopment Authority of India (IRDAI) has been requested to assess/review the
existing insurance products/policies so as to ensure risk cover against loss due to
abnormal delay in delivery of shipments. — Jt. D.G.F.T., New Delhi, Trade Notice
No. 55/2019-20, dated 12-3-2020. (See page E21)
National Company Law Tribunal (NCLT) - Whether to Institute or con-
tinue proceedings under FT (DR) Act/Rules against Companies/Firms which
are in NCLT under Insolvency and Bankruptcy Code - Clarification issued by
D.G.F.T. — In view of references received from Regional Authorities regarding
institution and/or continuation of proceedings against companies/firms which
are in the National Company Law Tribunal (NCLT) under the Insolvency and
Bankruptcy Code, 2016, the D.G.F.T. after obtaining opinion of the Department
of Legal Affairs, has clarified that unless there are specific directions by the Na-
tional Company Law Tribunal (NCLT) prohibiting proceedings under the FT
(D&R) Act/Rules, the Adjudicating Authority can proceed under the FT (D&R)
Act/Rules. However, the liquidator shall be added as one of the respondent
along with the parties. — D.G.F.T., ECA Circular No. 32/2015-20, dated 20-3-2019.
(See page E19)

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