Import of Rough, Cut and Polished Diamonds

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....a no C.12.1(a) of Master Direction no. 17 dated January 01, 2016 on Import of Goods and Services, in terms of which AD Category - I banks were permitted to approve Clean Credit i.e. credit given by a foreign supplier to its Indian customer / buyer, without any Letter of Credit (Suppliers' Credit) / Letter of Undertaking (Buyers' Credit) / Fixed Deposits from any Indian financial institutio....

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....d to the AD banks) iii. The importer requesting for such extension is not under investigation/no investigation is pending against the importer iv. The importer seeking extension is not a frequent offender. Since there is a possibility that the importer may have dealings with more than one AD bank, the AD bank allowing extension may devise a mechanism based on their commercial judgement, to ens....