Line of Credit supported by Government enables export financing with Indian content requirement and FEMA-directed compliance. Exim Bank's Government of India supported Line of Credit to Kenya finances eligible imports of goods, machinery and services from India for a textile factory upgrade, requiring at least 72 per cent Indian-sourced value and permitting up to 28 per cent foreign procurement; the LOC is effective from February 2017 with a terminal utilization period of 60 months. Shipments must be declared on the Export Declaration Form and exporters must follow Reserve Bank and FEMA instructions. No agency commission is payable under the LOC, though exporters may remit commission from their own resources or EEFC balances after full realization and subject to extant rules.
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 supported by Government enables export financing with Indian content requirement and FEMA-directed compliance.
Exim Bank's Government of India supported Line of Credit to Kenya finances eligible imports of goods, machinery and services from India for a textile factory upgrade, requiring at least 72 per cent Indian-sourced value and permitting up to 28 per cent foreign procurement; the LOC is effective from February 2017 with a terminal utilization period of 60 months. Shipments must be declared on the Export Declaration Form and exporters must follow Reserve Bank and FEMA instructions. No agency commission is payable under the LOC, though exporters may remit commission from their own resources or EEFC balances after full realization and subject to extant rules.
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