Line of credit conditions require majority Indian-sourced supplies, GR/SDF shipment declarations, and bank compliance under FEMA. A Line of Credit from Exim Bank to the Central African Republic finances eligible Indian goods, services and consultancy for hydro-electric projects, requiring at least 75 percent Indian-supplied value and allowing up to 25 percent foreign procurement (excluding consultancy). The Credit Agreement is effective from August 22, 2012, with LC and disbursement timelines 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 is payable under the LOC, and AD Category-I banks must notify exporters and permit commission remittance only from exporter resources or EEFC balances subject to prevailing rules; 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 conditions require majority Indian-sourced supplies, GR/SDF shipment declarations, and bank compliance under FEMA.
A Line of Credit from Exim Bank to the Central African Republic finances eligible Indian goods, services and consultancy for hydro-electric projects, requiring at least 75 percent Indian-supplied value and allowing up to 25 percent foreign procurement (excluding consultancy). The Credit Agreement is effective from August 22, 2012, with LC and disbursement timelines 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 is payable under the LOC, and AD Category-I banks must notify exporters and permit commission remittance only from exporter resources or EEFC balances subject to prevailing rules; directions are issued under FEMA.
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