Security substitution: Fixed Deposit Receipts may be replaced by Bank Guarantees, BGs operate from replacement date. The circular permits importers or project developers to substitute Fixed Deposit Receipts previously furnished as security for provisional mega and ultra-mega power projects with Bank Guarantees; FDRs remain effective until replaced, and any Bank Guarantee will operate from the date of replacement. Chief Commissioners are directed to allow such substitutions and report implementation difficulties to the Ministry.
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.
Security substitution: Fixed Deposit Receipts may be replaced by Bank Guarantees, BGs operate from replacement date.
The circular permits importers or project developers to substitute Fixed Deposit Receipts previously furnished as security for provisional mega and ultra-mega power projects with Bank Guarantees; FDRs remain effective until replaced, and any Bank Guarantee will operate from the date of replacement. Chief Commissioners are directed to allow such substitutions and report implementation difficulties to the Ministry.
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