Line of Credit for export finance requires majority Indian content, shipping declarations, and restricted agency commission remittances. Exim Bank provided a Line of Credit to finance Indian exports for Ethiopia's sugar industry requiring at least 75 per cent Indian supply content, permitting up to 25 per cent non Indian procurement for non consultancy goods, and setting L/C and disbursement timelines tied to project completion or a fixed period from agreement execution. Shipments must be declared on GR/SDF forms; agency commission is not payable under the LOC but may be remitted by exporters from their own resources or EEFC balances after realisation and subject to instructions. AD Category I banks must notify exporters; directions issued under FEMA remain subject to other statutory 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 for export finance requires majority Indian content, shipping declarations, and restricted agency commission remittances.
Exim Bank provided a Line of Credit to finance Indian exports for Ethiopia's sugar industry requiring at least 75 per cent Indian supply content, permitting up to 25 per cent non Indian procurement for non consultancy goods, and setting L/C and disbursement timelines tied to project completion or a fixed period from agreement execution. Shipments must be declared on GR/SDF forms; agency commission is not payable under the LOC but may be remitted by exporters from their own resources or EEFC balances after realisation and subject to instructions. AD Category I banks must notify exporters; directions issued under FEMA remain subject to other statutory approvals.
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