·
Complaint: DGFT received a Quality Control &
Trade Dispute (QCTD) complaint against M/s Julfikar Fashions Limited, Mirpur,
Bangladesh.
·
No
Response:
Despite repeated efforts through diplomatic and administrative channels, the
firm and relevant authorities did not provide a substantive response,
preventing verification and amicable resolution of the complaint.
·
Enhanced
Due Diligence: DGFT
has advised Export Promotion Councils, industry associations, Regional
Authorities, ECGC, authorised dealer banks and other stakeholders to exercise
heightened vigilance when dealing with the company.
·
Precautionary
Measures:
Stakeholders should:
1.
Conduct
comprehensive due diligence before entering into commercial transactions with
the firm.
2.
Alert
exporters, importers and other trade participants about the concerns.
3.
Assess
transaction risks when processing applications, extending financial or credit
support, providing trade facilitation services, or issuing certifications and
recommendations.
4.
Promptly
report adverse experiences, payment issues and contractual disputes involving
the firm to DGFT.
·
Nature
of Advisory: The
advisory is a precautionary
measure based
on currently available information to safeguard Indian exporters and other
trade stakeholders. It is not stated as a blanket prohibition on dealings with
the company.
A
Quality Control & Trade Dispute (QCTD) complaint was received against M/s Julfikar Fashions
Limited, Mirpur, Bangladesh.
2.
The matter was taken up through the appropriate diplomatic and administrative channels
in accordance with the provisions of the Foreign
Trade Policy (FTP), 2023, with a view to facilitating resolution
of the issues raised in the complaint. However, despite
repeated efforts and follow-up communications, no substantive response
has been received
from the concerned firm or the relevant
authorities. The continued
absence of cooperation and engagement has impeded efforts
to verify the facts of the case and achieve an amicable resolution.
3.
In light of the foregoing,
and in the interest of safeguarding the interests of Indian exporters
and trade stakeholders, the Directorate General of Foreign Trade (DGFT)
advises all Export
Promotion Councils (EPCs),
Industry Associations, Regional
Authorities (RAs), Export Credit Guarantee
Corporation of India Ltd. (ECGC),
Authorised Dealer Banks,
and other concerned stakeholders to exercise heightened vigilance while dealing
with the above- mentioned entity.
4.
Accordingly, all stakeholders are advised
to: (i) Exercise
enhanced caution and undertake comprehensive due diligence before
entering into any commercial arrangement or transaction with the aforesaid
entity; (ii) Sensitize and appropriately advise exporters, importers, and other trade participants regarding the concerns associated
with this entity; (iii) Carefully
assess the risk profile of any proposed
transaction involving the said entity
and consider this development while processing applications, extending financial or credit support, providing trade facilitation services, or issuing certifications and recommendations; (iv) Promptly report any adverse experience, payment- related issues, contractual disputes, or other relevant information concerning this entity to DGFT for further examination and necessary action.
5.
This advisory is being issued purely as a precautionary measure based on the information presently available and is intended
to alert the trading community to the potential
risks associated with dealings involving
the above- mentioned entity.
This
is issued with the approval
of the Competent Authority.