India to Establish Online Procedure for Export Obligation Filings in Light of Acquisitions, Insolvency

India's Directorate General of Foreign Trade is creating an online procedure for the filing and transfer of export obligations from an original company to a new one in the case of an amalgamation, “de-merger,” acquisition or insolvency, the DGFT said in an Aug. 4 notice. The original company is required to follow a procedure to transfer any advance authorizations and Export Promotion Capital Goods authorizations to the new one. The notice lays out the steps a company must take for filing.