Guarantee by shipping agents permitted to secure foreign principals' obligations under tax, customs and port laws. Permission under section 26(6) of the Foreign Exchange Regulation Act authorizes shipping agents to give a guarantee for any debt, obligation or liability of their foreign shipping principals, subject to Reserve Bank of India instructions, enabling agents to secure principals' obligations in favour of officers or authorities constituted under tax, customs, port trust and other Central or State Acts.
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.
Guarantee by shipping agents permitted to secure foreign principals' obligations under tax, customs and port laws.
Permission under section 26(6) of the Foreign Exchange Regulation Act authorizes shipping agents to give a guarantee for any debt, obligation or liability of their foreign shipping principals, subject to Reserve Bank of India instructions, enabling agents to secure principals' obligations in favour of officers or authorities constituted under tax, customs, port trust and other Central or State Acts.
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 
