LUT BOND

To,
The President of India
Acting Through the
Dy. Commissioner of Customs,
Jawahar Custom House,
Nhava Sheva
We, M/s. MILLENNIUM STARCH INDIA PVT LTD having registered office at,
VENKATESH SENATE, KARMAVEER BHAURAO PATIL CHOWK, SANGLI-MIRAJ
ROAD, TAL-MIRAJ, SANGLI 416416 hereinafter referred to as importer hereby
hold and firmly bind ourselves unto President of India, acting through the
(Jurisdictional Deputy Commissioner of Customs), department of Revenue, Ministry
of Finance, Govt. of India hereinafter referred to as the Government in the Sum of
Rs.16,00,000/- (Rs. SIXTEEN LAKH ONLY) for which payment will be well and
truly made. We, the importer bind ourselves by these presents.
Whereas the importer has imported goods listed in Annexure I availing custom duty
exemption in terms of notification of the Government of India in Accordance with
the Permission of Foreign trade policy Para 5 of FTP read with Para 5.7 (2009-2014)
and the Concerned Customs Notification no. 016/2015 Dt. 01.04.2015 (hereinafter
referred to as the said notification) against the Import EPCG Licence No.
3130008934/3/12/00 DT.15.09.2015 (hereinafter referred to as the said Licence)
for the import of goods mentioned therein on the terms and conditions specified in
the said notification and Licence.

Whereas I/We the obligor (s) is/are Manufacturer Exporter a registered with Central
Excise Registration Number is AAFCM5589GEM001 DATED 19.09.2011.
Whereas I/We the importer undertake to fulfill the export obligation as specified in
the said notification and Licence and to produce evidence of having fulfilled the
export obligation within thirty days from the expiry of specified obligation period to
the government.
Now, the conditions of the bond are that,
1. We, the obligors fulfill all the conditions of the said notification and shall
observe and comply with all terms and conditions.
2. We, the importer shall observe all the terms and conditions specified in
the Licence.
3. We, the importer shall fulfill the export obligation as specified in the said
notification and the Licence and shall produce evidence of having fulfilled
the export obligation period to the satisfaction of the government.
4. In the event of failure to fulfill full or part of the export obligation as
specified in the said notification and the Licence, we the importer herein
undertake to pay the customs duty but for the exemption and also interest
@ 18% p.a. thereon forthwith and without any demur, to the Govt.
5. We, the importer shall comply with the conditions and limitations
stipulated in the said import & export policy as amended from time to
time.
6. We, the importer shall not change the name and style under which the
Importer are doing business or change the location of the manufacturing
premises except with the written permission of the government.
In each and every of the above condition is duly complied with by us, the importer
above written bond shall be void and no effect, otherwise, the same shall remain in
full force and effect and virtue.
It is hereby declared by us, the importer and the government as follows:
1. The above written bond as given for the performance of an act in which the
Public are interested.
2. The government through the commissioner of customs or any other officer of
Customs recovers the sums due from the importer in the manner laid down in
sub-section (1) of the section 142 of the Customs Act, 1962.
AND, the President of India shall, at his option, be competent to male good all the
loss and damages by endorsing his rights under the above written bond.
We, further declare that this bond is given under the order of the Central
Government in the performance of an act in which the public are interested.
In these present the words imposing singular shall also include the plural and vice
versa where the context so requires.

In witness hereof these present have been signed this day of herein before written
by the importer
For M/s. MILLENNIUM STARCH INDIA PVT
LTD

Authorized Signatory
Name:
Signatory:
Place: Sangli
Date: 18.09.2015
Witness:
1.
2.

Accepted
for
day of 2015

and

Signature and Dated:

Name

Designation

on

behalf

of

the

President

of

India

on

SCHEDULE
1. DESCRIPTION OF GOODS
: AS PER LICENCE ATTACHED LIST
2. QUANTITY
: AS PER LICENCE ATTACHED LIST
3. EPCG LICENCE NO. & DATE
: 3130008934/3/12/00
DT.15.09.2015
4. CIF VALUE INR
: Rs.1928888.03
5. ASSESSABLE VALUE INR
: RS.1948177.00
6. NORMAL RATE OF DUTY
: 7.5% +10%+2%+1%+2%+1%+4%
7. AMOUNT OF DUTY INR
: RS.5,59,378.00
8. DUTY PAID IN MERIT
: RS.0.00
9. DUTY SAVED IN EPCG
: RS.5,59,378.00
10.INTEREST @18% FOR 10 YEARS
: RS.10,06,880.00
11.LUT BOND AMOUNT INR (9+10)
: RS.15,66,258.00
12.ROUNDED BOND AMOUNT
: RS.16,00,000.00
13.BANK GUARANTEE (15% ON DUTY SAVED)
: RS.1,00,000.00

STAMP & SIGNATURE