Line of Credit enables export financing with Indian content, specified disbursement timelines and FEMA compliance. Exim Bank's Line of Credit to the Democratic Republic of Congo finances the Ketende Hydro electric Project with eligible exports from India; at least 75% of contract value must be supplied from India while up to 25% of non consultancy goods may be sourced abroad. The Credit Agreement is effective from October 20, 2011, with LC/disbursement cut offs of 48 months from project completion for project exports and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms; no agency commission under the LOC, though exporters may pay from own resources or EEFC balances in compliance with remittance rules. Directions issued under FEMA.
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 enables export financing with Indian content, specified disbursement timelines and FEMA compliance.
Exim Bank's Line of Credit to the Democratic Republic of Congo finances the Ketende Hydro electric Project with eligible exports from India; at least 75% of contract value must be supplied from India while up to 25% of non consultancy goods may be sourced abroad. The Credit Agreement is effective from October 20, 2011, with LC/disbursement cut offs of 48 months from project completion for project exports and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms; no agency commission under the LOC, though exporters may pay from own resources or EEFC balances in compliance with remittance rules. Directions issued under FEMA.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
