Drawal of foreign exchange: definition includes letters of credit, international cards and other mechanisms creating foreign exchange liability. The rules define key terms: Act means the Foreign Exchange Management Act, 1999; Drawal means drawal of foreign exchange from an authorised person and includes opening a Letter of Credit or use of an international credit card, international debit card, ATM card, or any other mechanism creating foreign exchange liability; 'Schedule' means a schedule appended to these rules; undefined words take the meanings assigned in the Act.
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.
Drawal of foreign exchange: definition includes letters of credit, international cards and other mechanisms creating foreign exchange liability.
The rules define key terms: Act means the Foreign Exchange Management Act, 1999; Drawal means drawal of foreign exchange from an authorised person and includes opening a Letter of Credit or use of an international credit card, international debit card, ATM card, or any other mechanism creating foreign exchange liability; "Schedule" means a schedule appended to these rules; undefined words take the meanings assigned in the Act.
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