Line of Credit for rural electrification requires majority India-origin supplies, set LC/disbursement timelines, and FEMA compliance. Exim Bank's Line of Credit to Senegal finances rural electrification and eligible Indian goods, services and consultancy, requires a substantial majority of supplies to be from India with a limited portion of non-consultancy goods permitted from abroad, sets cut-off rules for Letters of Credit and disbursements tied to contract completion and a post-execution period for supply contracts, mandates shipment declaration on GR/SDF forms, prohibits agency commission under the LOC while permitting exporter-funded commission remittances subject to realization and instructions, and directs AD Category-I banks to inform exporters; issued under FEMA provisions.
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.
Line of Credit for rural electrification requires majority India-origin supplies, set LC/disbursement timelines, and FEMA compliance.
Exim Bank's Line of Credit to Senegal finances rural electrification and eligible Indian goods, services and consultancy, requires a substantial majority of supplies to be from India with a limited portion of non-consultancy goods permitted from abroad, sets cut-off rules for Letters of Credit and disbursements tied to contract completion and a post-execution period for supply contracts, mandates shipment declaration on GR/SDF forms, prohibits agency commission under the LOC while permitting exporter-funded commission remittances subject to realization and instructions, and directs AD Category-I banks to inform exporters; issued under FEMA provisions.
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