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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..... issioners 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 notification Nos. 12/2012-Customs (S.No.507) and 12/2012-Central Exc .....

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..... .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 will operate from the date of replacement. Since under the amended .....

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