Guarantees for margin money allowed by authorised dealers for approved commodity hedging, subject to central bank terms and conditions. An authorised dealer in India may give guarantee or standby letter of credit for obligations of an Indian resident owed to a non resident to cover payment of margin money for approved commodity hedging transactions, subject to terms and conditions stipulated by the Reserve Bank, and the amendment is given retrospective effect without adversely affecting any person.
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.
Guarantees for margin money allowed by authorised dealers for approved commodity hedging, subject to central bank terms and conditions.
An authorised dealer in India may give guarantee or standby letter of credit for obligations of an Indian resident owed to a non resident to cover payment of margin money for approved commodity hedging transactions, subject to terms and conditions stipulated by the Reserve Bank, and the amendment is given retrospective effect without adversely affecting any person.
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