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As the blanket exchange permit under I.T.C. scheme is granted on the basis of f.o.b. value of exports as certified by the Chief Controller of Imports and Exports for the previous financial year, we had advised your client to furnish such certificate for the period 1984-85 (April-March) as they were not eligible for the issue of blanket exchange permit under I.T.C. scheme on the basis of their 1977-78 export performance after expiry of the validity of the certificate, i.e., 31st March, 1979.
...your client's export outstanding since 1982 has been very high reaching the level of almost 85% in 1985. In terms of the current exchange control regulation, blanket exchange permit facility is not admissible wherever the value of the unrealised export exceeds 10% of the last annual export realisation. Therefore, your client was not eligible for the blanket exchange permit facility on this ground also.

6. Therefore, the first ground advanced in support of the rejection is totally misconceived. The limitations relied upon under para. 15C.3 or 6 of ECM do not apply. It is conceded that the use of the word "regulation" occurring therein is an error. In fact, the second reason put forth has the support of nothing stronger than an administrative instruction contained in a letter which is at Ex. Y. This letter lays down--

As you are aware, in terms of the Book of Instructions, if the Officer-in-

Charge of a regional office is of the view that an exporter, who otherwise satisfies the eligibility criteria for blanket permit, should be declined the facility because his export outstandings are more than 10% of the last annual export realisation, the matter is required to be referred to Central Office. It is, however, observed that the Offices do not follow a uniform procedure in calculating the quantum of outstandings for this purpose. It is, therefore, clarified for information of regional offices that the following amounts should be excluded, provided satisfactory documentary evidence is produced, while calculating 10% outstanding export bills.