Import-Export Codes: IEC clear up seeks to take away entrance cos

The authorities’s determination to deactivate Import-Export Codes (IECs) for companies that haven’t furnished up to date info is partly geared toward cleansing up IECs of entities such because the importer linked to the seizure of two,988 kg of heroin by the Directorate of Revenue Intelligence (DRI) on the Mundra port earlier this month.
Six individuals have been arrested over potential hyperlinks to the cargo, estimated to be price over Rs 21,000 crore, allegedly present in a consignment formally declared as “semi-processed talc stones” and imported by Aashi Trading Company, as per particulars issued by DRI. The agency had beforehand imported a consignment declared “semi-processed talc stones” in June.
Removing IECs of such firms was one of many objectives of the current transfer, a authorities official stated. An IEC is a enterprise identification quantity that’s necessary for export from India or import.

“We don’t have their emails or phone numbers, there are people who got IECs 20 years back,” stated the official. The Directorate General of Foreign Trade final week notified it might deactivate all IECs not up to date because the starting of 2005.
In the case of Aashi Trading Company, the web site of the Registrar of Companies doesn’t present any firm registered below its identify with the Ministry of Corporate Affairs. The agency might, nevertheless, be registered as a sole proprietorship agency with the MCA. The Ministry doesn’t publish particulars of sole proprietorship companies.