54. Monitoring of performance
54. Monitoring of performance — (1) Performance of the Unit shall be 79 monitored by the Approval Committee as per the guidelines given in Annexure appended to these rules.
(2) In case the Approval Committee comes to the conclusion that a Unit has not achieved positive Net Foreign Exchange Earning or failed to
abide by any of the terms and conditions of the Letter of Approval or Bond-cum-Legal Undertaking, without prejudice to the action that may
be taken under any other law for the time being in force, the said Unit shall be liable for penal action under the provisions of the Foreign Trade (Development and Regulation) Act, 1992.
