Delay in receipt of payment: Reserve Bank may direct measures to secure payment, sale or reimport. Regulation empowers the Reserve Bank to direct persons who sold, are entitled to sell, or can procure sale of exported goods or software to secure payment if the specified payment period has expired without receipt. Directions may secure payment for sold items, secure sale and payment where not sold, or require reimportation into India as circumstances permit, within a period specified by the Reserve Bank. Omission by the Reserve Bank to give directions does not absolve the person committing the contravention from consequences.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Delay in receipt of payment: Reserve Bank may direct measures to secure payment, sale or reimport.
Regulation empowers the Reserve Bank to direct persons who sold, are entitled to sell, or can procure sale of exported goods or software to secure payment if the specified payment period has expired without receipt. Directions may secure payment for sold items, secure sale and payment where not sold, or require reimportation into India as circumstances permit, within a period specified by the Reserve Bank. Omission by the Reserve Bank to give directions does not absolve the person committing the contravention from consequences.
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