Line of Credit conditions require majority Indian supply, GR/SDF export declarations and FEMA compliance by exporters and banks. Exim Bank's Line of Credit to Ghana finances eligible exports for a sugar-plant project; at least 75 percent of contract value must be supplied from India while up to 25 percent may be procured abroad. The LOC is effective from June 27, 2013 with prescribed last dates for opening LCs and disbursement tied to contract completion or a fixed period from execution. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may use own funds or EEFC balances for commission remittance after full realization, subject to prevailing rules. Directions 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 conditions require majority Indian supply, GR/SDF export declarations and FEMA compliance by exporters and banks.
Exim Bank's Line of Credit to Ghana finances eligible exports for a sugar-plant project; at least 75 percent of contract value must be supplied from India while up to 25 percent may be procured abroad. The LOC is effective from June 27, 2013 with prescribed last dates for opening LCs and disbursement tied to contract completion or a fixed period from execution. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may use own funds or EEFC balances for commission remittance after full realization, subject to prevailing rules. Directions issued under FEMA sections 10(4) and 11(1).
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