Airtel says its name removed from DGFT blacklist
New Delhi: Bharti Airtel on Friday said its name has now been removed from the denied entry list for non-fulfilment of export obligation under an export promotion scheme.
"We are actively engaged with the authorities to complete the formalities and provide additional documents for closure of the remaining cases," the company said in a statement.
The company said its has now been removed from the denied entry list, after it highlighted the relevant details and documents submitted to the Directorate General of Foreign Trade (DGFT).
Earlier this week, the firm said it was working to get its name removed from the list, and added that DGFT's latest action does not limit its ability to undertake future imports or exports.
The DGFT, which is under the Commerce Ministry, had put the company under the list, commonly known as blacklist, for non-fulfilment of export obligation in respect of certain Export Promotion Capital Goods (EPCG) authorisation issued to it.
Under the EPCG, an export promotion scheme, import of capital goods is allowed at zero customs duty. Capital goods imported at zero duty must fulfil EPCG export obligation equivalent to six times of duty saved, as per the scheme.