Delay in receipt of payment: central bank may direct exporters to secure payment, effect sale, or re import goods or software. Regulation 15 empowers the Reserve Bank to direct a seller or person entitled to sell or procure sale of exported goods or software, where the prescribed period for receipt of payment has expired without payment, to secure payment, to effect sale and payment if unsold, or to arrange re importation into India within a period specified by the Reserve Bank; omission to issue 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: central bank may direct exporters to secure payment, effect sale, or re import goods or software.
Regulation 15 empowers the Reserve Bank to direct a seller or person entitled to sell or procure sale of exported goods or software, where the prescribed period for receipt of payment has expired without payment, to secure payment, to effect sale and payment if unsold, or to arrange re importation into India within a period specified by the Reserve Bank; omission to issue directions does not absolve the person committing the contravention from consequences.
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