Replacement of Fixed Deposit Receipts (FDRs) furnished in respect of provisional Mega or Ultra Mega Power Projects with Bank Guarantees (BGs) - reg.

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....Delhi, dated 1st January, 2013 To, All Chief Commissioners of Customs. All Chief Commissioners of Customs & Central Excise. All Chief Commissioners of Central Excise. Sub: Replacement of Fixed Deposit Receipts (FDRs) furnished in respect of provisional Mega or Ultra Mega Power Projects with Bank Guarantees (BGs) - reg. Sir / Madam, I am directed to invite your attention to not....

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....secure release of the FDRs submitted by them prior to 27-06-2012 (i.e. date of DoR notifications) and the same should be substituted with Bank Guarantees. The matter has been examined by the Ministry. It has been felt that as long as a FDR was furnished as security, the FDR continued to operate as security. If an importer/ developer wishes to replace the FDR by a Bank Guarantee, the Bank Guarantee....