Foreign Trade (Development and Regulation) Act, 1992
6. Issue, suspension and cancellation of license.—
(1) The Central Government may levy fees, subject to such exceptions, in respect of such persons or class of persons making an application for license of in respect of any license granted or renewed in such manner as may be prescribed.
(2) The Director General or an officer authorized by him may, on an application and after making such inquiry as he may think fit, grant or renew or refuse to grant or renew a license to import or export such class or classes of goods as may be prescribed, after recording in writing his reasons for such refusal.
(3) A license granted or renewed under this section shall –
(a) Be in such form as may be prescribed;
(b) Be valid for such period as may be specified therein; and
(c) Be subject to such terms , conditions and restrictions as may be prescribed or as specified in the license with reference to the terms, conditions and restrictions so prescribed.
(4) The Director General or the officer authorized under sub section (2) may, subject to such conditions as may be prescribed, for good and sufficient reasons, to be recorded in writing, suspend or cancel any license granted under this Act:
Provided that no such suspension or cancellation shall be made except after giving the holder of the license a reasonable opportunity of being heard.
(5) AN appeal against an order refusing to grant, or renew or suspending or canceling, a license shall lie in like manner as an appeal against an order would lie under section 15.