Guarantees by non authorised persons: permitted for exporters and Indian promoters for overseas projects and subsidiaries, subject to approvals and compliance. Permits specified persons other than authorised dealers to give guarantees for overseas project performance or to secure overseas credit, subject to prior approval from the approving authority; allows exporters to provide bid bond guarantees within regulatory limits; permits agents of foreign carriers to guarantee obligations to Indian authorities; allows Indian Parties promoting overseas JVs or WOS to guarantee their foreign subsidiaries or first generation step down companies subject to compliance with foreign transfer/issue of security conditions; and permits authorised dealer banks, under RBI directions, to allow guarantees securing external commercial borrowings or overseas lessor financing in conformity with foreign exchange and trade policy conditions.
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.
Guarantees by non authorised persons: permitted for exporters and Indian promoters for overseas projects and subsidiaries, subject to approvals and compliance.
Permits specified persons other than authorised dealers to give guarantees for overseas project performance or to secure overseas credit, subject to prior approval from the approving authority; allows exporters to provide bid bond guarantees within regulatory limits; permits agents of foreign carriers to guarantee obligations to Indian authorities; allows Indian Parties promoting overseas JVs or WOS to guarantee their foreign subsidiaries or first generation step down companies subject to compliance with foreign transfer/issue of security conditions; and permits authorised dealer banks, under RBI directions, to allow guarantees securing external commercial borrowings or overseas lessor financing in conformity with foreign exchange and trade policy conditions.
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