Line of Credit requires majority Indian-sourced supplies, specified LC/disbursement timelines, GR/SDF declarations and FEMA compliance. A Line of Credit from Exim Bank to Ethiopia finances Indian-sourced eligible goods, services, machinery, equipment and consultancy for sugar-industry development; at least 75 per cent of contract value must be supplied by Indian sellers with up to 25 per cent procured outside India. The Agreement fixes timelines for Letters of Credit and disbursements, mandates GR/SDF shipment declarations, prohibits agency commission under the LOC (subject to exporter-funded commission from own resources or EEFC after realization), and requires AD Category I banks to inform exporters; directions are 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 requires majority Indian-sourced supplies, specified LC/disbursement timelines, GR/SDF declarations and FEMA compliance.
A Line of Credit from Exim Bank to Ethiopia finances Indian-sourced eligible goods, services, machinery, equipment and consultancy for sugar-industry development; at least 75 per cent of contract value must be supplied by Indian sellers with up to 25 per cent procured outside India. The Agreement fixes timelines for Letters of Credit and disbursements, mandates GR/SDF shipment declarations, prohibits agency commission under the LOC (subject to exporter-funded commission from own resources or EEFC after realization), and requires AD Category I banks to inform exporters; directions are issued under FEMA.
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