Line of Credit supporting export-financed power project requires majority Indian sourcing and EDF declaration compliance. Exim Bank's Government of India-supported Line of Credit to Zimbabwe finances repowering of Hwange Thermal Power Station and permits financing of eligible exports from India consistent with the Foreign Trade Policy. At least 75 per cent of contract value must be supplied from India; up to 25 per cent may be procured abroad. Shipments must be declared in the Export Declaration Form. No agency commission is payable under the LoC, though exporters may use their own funds or EEFC balances for commission remittance after realization, subject to extant instructions; AD Category I banks must notify exporters and facilitate compliance. Directions are issued under FEMA.
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Provisions expressly mentioned in the judgment/order text.
Line of Credit supporting export-financed power project requires majority Indian sourcing and EDF declaration compliance.
Exim Bank's Government of India-supported Line of Credit to Zimbabwe finances repowering of Hwange Thermal Power Station and permits financing of eligible exports from India consistent with the Foreign Trade Policy. At least 75 per cent of contract value must be supplied from India; up to 25 per cent may be procured abroad. Shipments must be declared in the Export Declaration Form. No agency commission is payable under the LoC, though exporters may use their own funds or EEFC balances for commission remittance after realization, subject to extant instructions; AD Category I banks must notify exporters and facilitate compliance. Directions are issued under FEMA.
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