Line of Credit terms require majority India sourced supplies and specified LC opening deadlines under FEMA oversight. Exim Bank's USD 60 million Line of Credit to Myanma Foreign Trade Bank finances eligible exports for a hydropower project and other supplies, requiring at least 85% India sourced goods and services. The Credit Agreement (effective December 19, 2007) sets LC opening deadlines: 48 months from scheduled completion for project exports and 72 months from agreement date for other supplies. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC; exporters may use own funds or EEFC balances for commission remittance after realisation, subject to AD Category I bank approval. Directions are issued under FEMA sections 10(4) and 11(1).
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 terms require majority India sourced supplies and specified LC opening deadlines under FEMA oversight.
Exim Bank's USD 60 million Line of Credit to Myanma Foreign Trade Bank finances eligible exports for a hydropower project and other supplies, requiring at least 85% India sourced goods and services. The Credit Agreement (effective December 19, 2007) sets LC opening deadlines: 48 months from scheduled completion for project exports and 72 months from agreement date for other supplies. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC; exporters may use own funds or EEFC balances for commission remittance after realisation, subject to AD Category I bank approval. Directions are issued under FEMA sections 10(4) and 11(1).
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