Exim Bank’s GOI-supported Line of Credit (LOC) for USD 700 million to the Govt. of Mongolia (GO-MNG), for financing construction of Crude Oil Refinery Plant in Mongolia
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Government-supported Line of Credit enables export financing for refinery construction, subject to Foreign Trade Policy and FEMA compliance. Government-supported Line of Credit permits financing of imports for refinery construction from India subject to export eligibility under the Foreign Trade Policy; the LoC is effective from the agreement date with final disbursement due 48 months after scheduled contract completion. Shipments must be declared in the Export Declaration Form/Shipping Bill per Reserve Bank instructions. No agency commission is payable under the LoC, but exporters may use own funds or Exchange Earners' Foreign Currency Account balances for commission after realization, subject to remittance rules; AD Category-I banks must notify exporters and direct them to Exim Bank for details.
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 enables export financing for refinery construction, subject to Foreign Trade Policy and FEMA compliance.
Government-supported Line of Credit permits financing of imports for refinery construction from India subject to export eligibility under the Foreign Trade Policy; the LoC is effective from the agreement date with final disbursement due 48 months after scheduled contract completion. Shipments must be declared in the Export Declaration Form/Shipping Bill per Reserve Bank instructions. No agency commission is payable under the LoC, but exporters may use own funds or Exchange Earners' Foreign Currency Account balances for commission after realization, subject to remittance rules; AD Category-I banks must notify exporters and direct them to Exim Bank for details.
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