Hydel Engineering Products Subject to Export Denial Order

An engineering products company in India has been placed on the denial of export privileges list by the Bureau of Industry and Security because the company did not pay any of the $100,000 fine it agreed to for exporting sensitive material from the United States to Iran. Narender Sharma and his company Hydel Engineering Products exported the items to Iran without required U.S. government authorization, according to the denial order. The company was required to pay $30,000 of the fine amount in December 2017, but never did. The rest of the fine was initially suspended during a five-year probationary period, stipulated on its timely payment of the initial fine amount.