Line of Credit requiring majority Indian sourcing for financed contracts, compliance with RBI shipment declarations and FEMA directions. A Line of Credit of USD 76.50 million to Malawi finances eligible goods, services, machinery, equipment and consultancy for specified projects, requiring at least 75 per cent of contract value to be supplied from India and permitting up to 25 per cent procurement abroad. The Credit Agreement is effective March 13, 2013; LC and disbursement timelines are 48 months for project exports and 72 months for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may remit commission from their own funds or EEFC balances subject to AD Category-I bank compliance. 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 requiring majority Indian sourcing for financed contracts, compliance with RBI shipment declarations and FEMA directions.
A Line of Credit of USD 76.50 million to Malawi finances eligible goods, services, machinery, equipment and consultancy for specified projects, requiring at least 75 per cent of contract value to be supplied from India and permitting up to 25 per cent procurement abroad. The Credit Agreement is effective March 13, 2013; LC and disbursement timelines are 48 months for project exports and 72 months for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may remit commission from their own funds or EEFC balances subject to AD Category-I bank compliance. Directions issued under FEMA.
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