Import of Rough, Cut and Polished Diamonds

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..... No.2 dated July 7, 2014 and para 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 f .....

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..... or delayed payments has already been delegated 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 mech .....

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..... closely examined to ensure that the transactions are bonafide. All other instructions relating to import of Rough, Cut and Polished Diamonds shall continue. 6. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 7. The directions contained in this circular have been issued undersection 10(4) and 11(1) of the Foreign .....

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