Prem Ltd. exported certain goods last year. The buyer has sent back those goods since the same were under warranty and required repairs. Which of…

Prem Ltd. exported certain goods last year. The buyer has sent back those goods since the same were under warranty and required repairs. Which of the following conditions are to be satisfied by Prem Ltd. to avail exemption on goods re-imported for repairs under Notification No. 158/95 Cus dated 14.11.1995? (i) Prem Ltd., at the time of importation, executes a bond. (ii) Goods must be re-exported within 6 months or 1 year (if time is extended) of the date of re-importation. (iii) In case goods are not repaired, new goods are to be sent by Prem Ltd. within 6 months. Choose the most appropriate option.