Line of Credit conditions require majority Indian sourcing, EDF declaration and specified utilisation for financed projects. A Government of India-supported Line of Credit (LoC) of USD 800 million from Exim Bank to the Republic of Maldives finances eligible exports of goods, works and services, with at least 75 per cent of contract value to be supplied from India and up to 25 per cent procured outside. The Agreement is effective from August 20, 2019, with a terminal utilisation period of 60 months after scheduled project completion. Shipments must be declared in the Export Declaration Form. No agency commission is payable under the LoC, though exporters may use own funds or EEFC balances for commissions, subject to realisation and AD Category I bank compliance. The directions are 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 conditions require majority Indian sourcing, EDF declaration and specified utilisation for financed projects.
A Government of India-supported Line of Credit (LoC) of USD 800 million from Exim Bank to the Republic of Maldives finances eligible exports of goods, works and services, with at least 75 per cent of contract value to be supplied from India and up to 25 per cent procured outside. The Agreement is effective from August 20, 2019, with a terminal utilisation period of 60 months after scheduled project completion. Shipments must be declared in the Export Declaration Form. No agency commission is payable under the LoC, though exporters may use own funds or EEFC balances for commissions, subject to realisation and AD Category I bank compliance. The directions are issued under FEMA powers.
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