Government-supported line of credit: exporters must source majority of contract goods from India and comply with EDF/SDF declarations. The Line of Credit finances renovation of a foreign power plant and mandates that at least 75% of the contract price for eligible goods, machinery, equipment and services (including consultancy) be supplied from India, with up to 25% procurable from outside India. Shipments must be declared on EDF/SDF forms per Reserve Bank instructions. Agency commission is not payable under the LOC, though exporters may remit commission from their own resources or Exchange Earners' Foreign Currency accounts after full realisation, subject to prevailing rules. Directions are issued under FEMA without prejudice to other legal permissions.
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.
Government-supported line of credit: exporters must source majority of contract goods from India and comply with EDF/SDF declarations.
The Line of Credit finances renovation of a foreign power plant and mandates that at least 75% of the contract price for eligible goods, machinery, equipment and services (including consultancy) be supplied from India, with up to 25% procurable from outside India. Shipments must be declared on EDF/SDF forms per Reserve Bank instructions. Agency commission is not payable under the LOC, though exporters may remit commission from their own resources or Exchange Earners' Foreign Currency accounts after full realisation, subject to prevailing rules. Directions are issued under FEMA without prejudice to other legal permissions.
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