Line of Credit for Nigerian power projects mandates majority India-sourced supplies, defined LC/disbursement timelines and FEMA compliance. Exim Bank's Line of Credit to Nigeria finances eligible Indian exports for specified power projects, requiring a substantial majority of contract value to be supplied from India while allowing a minority portion to be procured abroad; the agreement fixes distinct timelines for opening Letters of Credit and disbursement for project exports and supply contracts, mandates GR/SDF shipment declarations, prohibits agency commission payment under the LOC (permitting exporter-funded commission in free foreign exchange subject to AD bank rules), and is issued under FEMA powers.
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 Nigerian power projects mandates majority India-sourced supplies, defined LC/disbursement timelines and FEMA compliance.
Exim Bank's Line of Credit to Nigeria finances eligible Indian exports for specified power projects, requiring a substantial majority of contract value to be supplied from India while allowing a minority portion to be procured abroad; the agreement fixes distinct timelines for opening Letters of Credit and disbursement for project exports and supply contracts, mandates GR/SDF shipment declarations, prohibits agency commission payment under the LOC (permitting exporter-funded commission in free foreign exchange subject to AD bank rules), and is issued under FEMA powers.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
