International competitive bidding: residents may incur foreign exchange liabilities and make payments without prior ministry approval. Persons resident in India may incur foreign exchange liabilities and make or receive payments in foreign exchange for global bids for projects executed in India under International Competitive Bidding without prior Administrative Ministry or Central Government approval, and Authorized Dealer Category I banks may sell foreign exchange to resident companies awarded such contracts, subject to other applicable laws.
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.
International competitive bidding: residents may incur foreign exchange liabilities and make payments without prior ministry approval.
Persons resident in India may incur foreign exchange liabilities and make or receive payments in foreign exchange for global bids for projects executed in India under International Competitive Bidding without prior Administrative Ministry or Central Government approval, and Authorized Dealer Category I banks may sell foreign exchange to resident companies awarded such contracts, subject to other applicable laws.
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