SIT seeks action on duty drawback claims without exports

SIT appointed by Supreme Court has directed ED to take action under FEMA with respect to 216 companies with respect to the period before March 1, 2016 and 572 companies for the period after March 1, 2016, for which each such company had export proceeds pending for realisation for more than Rs 100 crore and also take action on such companies' with smaller dues.