law: 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.