Line of credit conditions require majority India sourcing and specified disbursement and reporting requirements under FEMA. Exim Bank's LOC to Niger finances solar village electrification and a 5 MW PV project, requiring at least 75 percent India-sourced goods and services; up to 25 percent may be procured abroad. The Credit Agreement is effective from February 18, 2015, with opening/disbursement timelines tied to project completion (48 months) and supply contracts (72 months). Shipments must be declared on EDF/SDF forms. No agency commission is payable under the LOC, though exporters may remit commission from their own resources or EEFC balances after realization, subject to remittance rules. AD Category-I banks must inform exporters and obtain LOC details; directions issued 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 conditions require majority India sourcing and specified disbursement and reporting requirements under FEMA.
Exim Bank's LOC to Niger finances solar village electrification and a 5 MW PV project, requiring at least 75 percent India-sourced goods and services; up to 25 percent may be procured abroad. The Credit Agreement is effective from February 18, 2015, with opening/disbursement timelines tied to project completion (48 months) and supply contracts (72 months). Shipments must be declared on EDF/SDF forms. No agency commission is payable under the LOC, though exporters may remit commission from their own resources or EEFC balances after realization, subject to remittance rules. AD Category-I banks must inform exporters and obtain LOC details; directions issued under FEMA.
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