https://www.taxtmi.com/caselaws?id=398912 The court dismissed the writ petition, ruling that the petitioners were not entitled to an extension of the usance period of the Letter of Credit (L/C) Facility from 180 days to 270 days. The court held that the discretion to extend the usance period rested with the lender-bank and was not a right of the petitioners. The petitioners were instructed to repay the loan amount within 30 days, with the implication of higher interest rates for non-compliance. en-us Fri, 25 Sep 2020 00:00:00 +0530 Mon, 28 Sep 2020 08:42:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398912 The court dismissed the writ petition, ruling that the petitioners were not entitled to an extension of the usance period of the Letter of Credit (L/C) Facility from 180 days to 270 days. The court held that the discretion to extend the usance period rested with the lender-bank and was not a right of the petitioners. The petitioners were instructed to repay the loan amount within 30 days, with the implication of higher interest rates for non-compliance. Case-Laws FEMA Fri, 25 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398912