Port Wings Maritime Exim Weekly Newspaper 29 July 2020 Issue

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Published from Chennai and Circulated among the trade across the country RNI TNENG/2014/59741

Wednesday, July 29, 2020

8 Pages

Model Handbook For Ports Likely Chennai

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Port Wings News Network ith an aim to introducing transparency and also ensuring efficiency of ports and airports, the Union Commerce Ministry is planning to bring out a model handbook to deal with the process and documentation in ports, according to Pawan Kumar Agarwal, Special Secretary of Logistics, Ministry of Commerce. Agarwal further said: "There are several issues of inefficiency in logistics, including port documentation and processes, that are hurting EXIM trade." While addressing a webinar on EXIM Trade in New Normal organised by the Madras Chamber of Commerce of Industry recently, Agarwal referred to a recent study by Asian Development Bank, said at JNPT and Vizag ports it was found that 80-145 documents are required

and nearly 30 per cent of them are redundant and one-third are required more than once, He advocated a uniform port documentation model which can be File Photo

formed at the national level, but can be customised by each port according to their local requirements. The proposed model would be ready in 6-8 months, he added. On logistics cost, Agarwal said there are different numbers. For instance, a study in 2018 by

a private agency said that it was around 13 per cent. However, a report by the National Council of Applied Economic Research last year pegged it at 8.1 per cent, which is nearly the global average. “We should not give too much importance to the figures. Rather than focusing on the numbers, we should look at addressing inefficiencies in the system. There is a lot of scope to improve logistics cost,” he said. “Whatever be the logistics cost, our focus should be to reduce the logistics cost by five per cent,” he added. Stressing on the need for going digital, he said the exchange of documents is being done manually in ports and 30 per cent of the documents is redundant.

MEIS Module Blocked From Accepting New Applications Mumbai

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Port Wings News Network he Directorate General of Foreign Trade (DGFT), on July 23, blocked the MEIS module from accepting new applications for shipping bills with let export order (LEO) beginning April 1, 2020, to limit the issuance of any more scrips, according to a BusinessLine report. The Merchandise Exports from India Scheme (MEIS) seeks to make India’s products more competitive in the global markets. The scheme provides incentives in the form of duty credit scrip to the exporter to compensate for his loss on payment of duties. The

incentive is paid as percentage of the realised Free on Board (FOB) value (in free foreign exchange) for notified goods going to notified markets. The Department of Revenue had allocated Rs 9,000 crore for MEIS during FY21. It recently asked the Commerce and Industry Ministry to “review MEIS rates and coverage so that the benefit outgo remained within the allocation of Rs 9,000 crore in this period and sought allocation accordingly”. The Commerce and Industry Ministry had, in turn, urged the Finance Ministry to “re-consider” its decision to stick to the Rs 9,000-crore allocation.

The database for MEIS scrip issuance was checked and it has been found that as on July 20, MEIS scrips of a value of Rs 422.4 crore had already been issued to exporters for shipping bills with let export order from April 1 onwards, Praveen Kumar, Deputy Director General of Foreign Trade, said. “Since allocated funds at this stage for MEIS for FY 21 stands at Rs 9,000 crore and any additional allocation has not been conveyed by DoR, the online MEIS module was blocked on July 23 from accepting new applications for shipping bills with LEO date April 1 onwards to limit the issuance of any more scrips, he said.

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NCLAT Upholds Adani Group's Adani Ports & Special Economic Zone's Takeover Of Dighi Port Mumbai

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Port Wings News Network three-member NCLAT bench dismissed the plea led by promoter Vishal Vijay Kalantri challenging the order passed by the Mumbai bench of National Company Law Tribunal (NCLT), which had approved the Rs

NCLAT bench headed by Acting Chairperson Justice B L Bhat. The appellate tribunal also observed that all "possible endeavours are made by the File Photo

650-crore resolution plan by Adani Ports & Special Economic Zone (APSEZ) on March 5, according to a report in The Economic Times. The appellate tribunal rejected Kalantri's submissions contending that NCLT has failed to consider objections raised by it over the resolution plan submitted by APSEZ and rejected the settlement proposal submitted by his company Balaji Infra Projects Ltd (BIPL). "All objections raised qua the action of the 'Resolution Professional' during Corporate Insolvency Resolution Process (CIRP), approval of 'Resolution Plan' of 'APSEZ' by the Committee of Creditors and its subsequent approval by the Adjudicating Authority being unfounded are hereby repelled. "There is no merit in this appeal and the same is dismissed," said the

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promoters to frustrate the CIRP and thwart all attempts at resolution" of the corporate insolvency and revival of Dighi Port, thereby jeopardising the legitimate interests of all stakeholders and defeating the object of the legislation. "At the very outset, we may observe that the instant case is yet another instance of the promoters not letting the goose escape from their dragnet, though it no more lays golden eggs," said NCLAT. It further said: "We say so as in the instant case this is the third attempt to stall the process, the earlier two efforts on the part of promoters having fizzled out.” The NCLAT also observed that due procedures were followed while approving APSEZ's resolution plan. "It is not disputed that the fair value and liquidation value was determined by the duly appointed registered valuers and the approved resolution plan was considered with regard to its viability and feasibility in terms of the provisions of the ‘I&B Code' and CIRP Regulations. "Nothing has been brought to our notice to demonstrate that the Contd. on page -2

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RNI No. TNENG/2014/59741 Postal Registration No. TN/CNIGPO/067/2018-2020 Posted at Pathrika Channel, Egmore, RMS, Chennai-8. Date of Publication - Wednesday, Posted on Tuesday / Wednesday


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