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.
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