Line of Credit for export finance enables railway equipment exports subject to FEMA compliance and reporting requirements. Exim Bank's Line of Credit to Mali and Senegal finances exports of equipment, goods and services from India for acquisition of railway coaches and locomotives eligible under the Foreign Trade Policy. Utilisation conditions include terminal dates for opening Letters of Credit and disbursement (48 months from scheduled completion for project exports; 72 months from Credit Agreement execution for other supplies), mandatory GR/SDF shipment declarations, prohibition on agency commission under the LOC (with limited remittance options from exporter resources or EEFC balances), and compliance and notification obligations for Authorised Dealer banks 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 for export finance enables railway equipment exports subject to FEMA compliance and reporting requirements.
Exim Bank's Line of Credit to Mali and Senegal finances exports of equipment, goods and services from India for acquisition of railway coaches and locomotives eligible under the Foreign Trade Policy. Utilisation conditions include terminal dates for opening Letters of Credit and disbursement (48 months from scheduled completion for project exports; 72 months from Credit Agreement execution for other supplies), mandatory GR/SDF shipment declarations, prohibition on agency commission under the LOC (with limited remittance options from exporter resources or EEFC balances), and compliance and notification obligations for Authorised Dealer banks under FEMA.
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