Forward contract cancellation and rebooking allowed for resident current account hedges, subject to exposure reporting and specified exceptions. All forward contracts booked by residents to hedge current account transactions may be cancelled and rebooked freely regardless of tenor, subject to annual submission of corporate-wise foreign currency exposure details as of April 1; exclusions apply to forwards booked on past performance without documents and to forwards for transactions denominated in foreign currency but settled in Indian Rupees.
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.
Forward contract cancellation and rebooking allowed for resident current account hedges, subject to exposure reporting and specified exceptions.
All forward contracts booked by residents to hedge current account transactions may be cancelled and rebooked freely regardless of tenor, subject to annual submission of corporate-wise foreign currency exposure details as of April 1; exclusions apply to forwards booked on past performance without documents and to forwards for transactions denominated in foreign currency but settled in Indian Rupees.
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