Line of credit facility enabling financing for eligible exports to Sudan with specified sourcing and compliance conditions. Grant of a Line of Credit by Exim Bank to the Government of Sudan finances eligible goods, services and consultancy from India for the Elduem Sugar Project, requiring at least 85% Indian-supplied value and permitting up to 15% foreign procurement (excluding consultancy). Shipments must be declared on GR/SDF forms; timelines for opening Letters of Credit and disbursements are tied to project completion or a set period from agreement execution. No agency commission is payable under the LOC, though exporters may use their own funds or Exchange Earners' Foreign Currency Account balances for commission payments subject to remittance rules. Directions are issued under sections 10(4) and 11(1) of FEMA without prejudice to other approvals.
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 facility enabling financing for eligible exports to Sudan with specified sourcing and compliance conditions.
Grant of a Line of Credit by Exim Bank to the Government of Sudan finances eligible goods, services and consultancy from India for the Elduem Sugar Project, requiring at least 85% Indian-supplied value and permitting up to 15% foreign procurement (excluding consultancy). Shipments must be declared on GR/SDF forms; timelines for opening Letters of Credit and disbursements are tied to project completion or a set period from agreement execution. No agency commission is payable under the LOC, though exporters may use their own funds or Exchange Earners' Foreign Currency Account balances for commission payments subject to remittance rules. Directions are issued under sections 10(4) and 11(1) of FEMA without prejudice to other approvals.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
