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REGISTERED No. D. 221

The Gazette of India

EXTRAORDINARY

PART I—Section 1

PUBLISHED BY AUTHORITY

No. 158] NEW DELHI, THURSDAY, JULY 5, I973/ASADHA 14,1895

Separate paging is given to this Part in order that it may be filed as a separate compilation.

MINISTRY OF COMMERCE

PUBLIC NOTICES

IMPORT TRADE CONTROL

New Delhi, the 5th July 1973

SUBJECT.—Licensing conditions under 1973-74 French Credit.

No. 111-ITC(PN)/13.—The terms and conditions governing the issuance of import licences under Indo French Financial Protocol 1973-74 (French General Credit. 1973-74) as given in Appendix to this Public Notice are notified for information.

APPENDIX

Import! Licence

1. The import licence will be issued on CIF basis, with initial validity period of four months for contracting and twelve months for completing shipments,

2. Each import licence will bear a superscription, "French Credit—Project Portion" or "French Credit—Non-Project Portion" as the case may be. The two suffix in the licence code classification number will be—for project—"S/FE" and for- non-project "S/FN".

3. Within a fortnight of the receipt of the import licence, the importer should intimate to the Department of Economic Affairs (WE-I Section) the fact of receipt of the import licence indicating the number, date and value of the import licence and likely date by which the contract documents would be furnished.

( 8 8 5)

4. The condition regarding contracting will not be deemed to have been. cwc. plied with unless complete contract documents as probided in para 25 below, cK furnished within the stipulated period of four months.

5. Where this stipulation Is not complied within four months, the impor licence will be demeed to have become invalid. The Import licence may, howcvei be revalidated on an application by the party, alongwith the licence in original, t' the licensing authority giving reasons for not complying with the requirement ii time,

6 The request for revalidation would be r^nsidered by the licensing authority on merits in consultation with the Der:.'."'iment of Economic Affairs, and i: accepted, the licence will be revalidated for contracting for a further period noi exceeding three months.

Contracting

7. One contract, on the basis of firm prices has to be entered into with u French supplier for the wllole amount of the licence.

8. However, more than one contract may be entered into subject to the permission specifically obtained from the Department of Economic Affairs, giving reasons for doing so, before placing orders.

9. A contract will normally comprise an Agreement signed by both the parties viz., the Indian importer and French supplier or it may comprise the order placed by the Indian importer and the letter of acceptance thereof In unequivocal terms by the French supplier.

10. A contract comprising a serieg of correspondence between the two parties frequently amending/revising the various provisions will not be accepted. In such cases, it is advisable to prepare a final, document including therein the terms agreed to by both the parties and signed as such.

11. Under the French Credit Agreement, Government of India have the option to substitute Buyers' Credit by Suppliers Credit if such a course is found to be more beneficial. It has, therefore, been considered necessary that Indian importers who have been given allocation of and above FF 5 million (Rs. 71.1 lakhs) from the project portion of the French Credit should invite quotations from French Suppliers for supply of equipment on credit terms mentioned below; down pay- ment upto 5 per cent of the contract value; repayment of the balance ever a period of 10 years commencing six months after the completion of the shipments and Interest rate of 6 per rent per annum free of Indian income tax inclusive of financing charges if any. The Indian importer should also invite quotations on the basiB of payment terms indicated In paras 18—21 below. On the basis of this data, Government of India will decide the manner of financing the imports and advise the importer of the same.

Terms of Contract

General

12. The contract should be placed on a C.I.F. or C & F basis and should clearly indicate F.O.B. price, freight and Insurance charge separately. All of these should be indicated in French currency. Contract must be entered only on C & F basis, by a Government agency or a public sector undertaking. If any Importer desires to enter into a contract on f.o.b. basis, he should seek prior permission of the Department of Economy Affairs (WE-I Section), Ministry of Finance New Delhi giving reasons for doing' so.

13 If any commission is to be paid to the Indian agent of the French Supplier, it will be shown separately from the value of the contract. The Indian agents' commission will be paid in Indian rupee but will be set against the total value of the Import licence.

14 The value should be reckoned at present at the central rate of one French= Ks. 1.422. The above rate of exchange is, however, subject to revision.

Value Limits 0/ Contracts

15. The value of each contract should not fall below the amounts Indicated .against each category as unden

FF Million (Rs. lakhs)

     Large  Industrial  Project                           5.00          (71.100)
 (i)
     Projects  for  heavy  eq     -ient                    5.00         (71.100)
 (li)
(iii) Fertilizers                                         o.so           (7.110J
 (iv) Capital  Goods                                      0.20           (2.844)
 (v) Other  goods                                         0.05           (0.711)

• Origin of Goods

16- The goods should be of French origin unless a part thereof is permitted by the French authorities to be of non-French origin. A stipulation as to the origin of goods should be incorporated, and 'wherever necessary, a letter evidenc- ing approval of the French authorities to the third country imports should accompany the contract.

Port of shipment

17. Goods, if necessary, can be shipped from non-French ports.

Payment Terms

18. The French Credit aoes not provide tor deferred payments. Full payment will therefore be made to the French supplier against shipments/completion of erection/commissioning of the plant as indicated in the following paragraphs.

19. Advance Payments.—An advance payment of maximum 5 per cent of the FOB price of the supplies can be provided at the time of the contract coming into effect, unless any other terms are settled between the buyers and the sellers. In accordance with the normal international commercial practice in this matter, for the particular type of goods conerned.

20. However, where an amount higher than fi per cent is to be provided for payment as an advance, prior approval of the Department of Economic Affairs should be obtained, with full justification, before any commitments are made.

21. Other Payments—(a) Industrial Project—Apart from the amount of down payment, it is permissible to pay the balance amount at the time of last shipment of equipment under the contract, or at the time of completion of erection, or on commissioning of the plant.

Where the nature of supplies/services covered by the contract requires a per- formance guarantee, necessitating a provision to the effect that the last instalment of 10 per cent shall no fall due prior to the end of an adequate period after com- pletion of the deliveries of goods or of the project, the importers could alter- natively, agree to the provision for making hundred per cent payment at the time of last shipment subject to the condition that a performance guarantee of an approved bank is furnisher by the French supplier to the Indian importer; such a guarantee could be discharged at the end of an adequate period after the delivery of the last shipment as may be agreed mutually between the Indian importer and French supplier.

However, depending on the type of project, the payment for contracts for industrial projects may also be provided for, as for the commodities, referred to in sub-paragraph (b) below,

(b) Commodities.?—In the contracts for commodities (light equipment, spares. components, chemicals, fertilizers, other raw materials, etc.) the amount left after down payment will be payable prorata according to the value of goods covered by each shipment, on the basis of the shipping schedule.

Other Conditions

22. To make a contract eligible for financing under the French Credit it should suitably incorporate the following provisions, apart from those indicated above as also any others considered necessary by the contracting parties:

(i) The two contracting parties agree that the contract is subject to the approval of the Indian and French authorities for financing under the French Credit in terms of the Indo-French Financial Protocol and the licensing conditions issued thereunder by the Government of India.

(ii) The French supplier agrees that he will be paid from the French Trea- sury credit upto the first 50 per cent of the value of the contract and the payment of the remaining 50 per cent will be made from the Buyers' (Bank) credit In accordance with para 28 of licensing condi- tions.

(iii) The Indian importer and the French supplier agree to furnish such infor- mation and documents as may be required under the French Credit agreements between the Government of India and France.

23. It should be ensured that the terms of payments, e.g. amount payable on the contract becoming effective, and that payable against shipment/completion of project etc. are set out in precise terms, with details showing the schedule of deliveries/payments etc. The value of the contract should invariably be broken down into F.O.B. value, freight and insurance elements. Customary Guarantee

24. The importer may arrange and provide for in the agreement customary guarantee (s) which may be necessary for safeguarding his Interest.

Submission of Contract Documents

25. Within 20 days of the conclusion of the contract, the importer should send a letter accompanied by the following documents to the Ministry of Finance, De- partment of Economic AiTalrs, (WE-1 Section), North Block, New Delhi: —

(1) Ten certified copies of the contract and of any further amendments(s> duly executed In English language and signed by both the Indian im- porter and the French supplier,

(ii) Photo copy of import licence valid for contracting on the date of execu- tion of the contract/acceptance by French supplier of the order placed on him by the Importer.

(iii) A bank guarantee (as in Annexure I) obtained from a schedule bank authorised by the Reserve Bank of India to deal In foreign exchange. This bank guarantee Is not to be furnished by the Government depart- ments and public undertakings.

(iv) Other particulars stipulated In Annexure II in duplicate.

The contract will be processed further only after all these document have been furnished by the importer,

Notification of Contract

The contract will be processed further only after all these documents have been Councillor for Economic Aalflrs, Embassy of France. New D^ihi. if it i? complete the documents, including the bank guarantee, etc. are in orrl^r, the Import licence is valid for contracting and is considered pligible for financing under the French Credit.

27. The contract will be deemed to have become effective 20 days after its noti- fication as above by the Department of Economic Affairs, provided no objection 1B raised by the Embassy of France within that period.

Methods of Payments

28. Payments are made to the supplier from the French treasury loans and the banks credit, on presentation of documents listed in annexure-IIT to the Banque Franeaise du Commerce Exterieur, on the haslg of a "letter of instruction" to be issued bv the Controller of Aid Accounts, Department of Economic Affairs. Minis- try of Finance. Jeevan Deep Building, Parliament Street, New Delhi, on effectua- tion of the contract.

29. No remittances from India are permissible under the import licence issued under the French Credit, except in terms of condition 31 below,

30. Immediately after payments have been effected in accordance with the letter of instruction referred to above, the original set of documents (negotiable), alongwith details of bank charges (l/81h of one per cent documentation charge, plus tax at the rate of 17.60 per cent thereon) and expenses on postages etc. will be sent by the Banque Francalse du Commerce Extcrieur, to:—•

(i) the importer's bank in India, which has provided the bank guarantee in the case of importers in the private sector; or

(ii) to the nominated branch of the State Bank of India, or of any one of the fourteen nationalised banks, in the case of public sector undertakings; or

(iil) to the Importer direct, in the case 01 the departments of Central and State governments, including State electricity boards.

31. WHhin a week of receiving the Intimation about bank charges, from the Banquo Francaise du Commerce Extericur, the Indian bank will remit the amount of banking charges and postage including cable charges directly to the French bank concerned without affecting Government of India's account.

32. For this purpose, necessary rupees will be collected by the Indian bank from the Indian importer, in addition to the amount required under their guaran-

33. In respect of imports by Central and State governments Departments and the State electricity boards the remittances of banking charges and postage includ- ing cable charges will be arranged by the Controller of Aid Accounts, by debit to the authority concerned. For this purpose those authorities should intimate the details of the charges to be paid, promptly to he Controller ot Aid Accounts.

Effecting Rupee Deposits

34. (i) Private Sector importers and public sector undertakings —Within ten days, at the maximum, of the receipt of the documents mentioned in condition 30 supra, the bank which has issued the guarantee, or the nominated branch of the Male Bank of India or one of the fourteen nationalised banks In India will arrange to deposit equivalent of the payment made to the foreign suppliers as indicated in the invoice together with commission and Incidental charges % 1 per cent ad valorem, on the payments made to the suppliers. In addition ™ ntB? •£ ^r- C e nt ^ i. a n n U m' f ⁰r t he a c t u al p e r l od between the date of pay- ment to the foreifin suppliers and the date of deposit of rupee equivalent, or any

^ o ^ h r ^ r C e n T T c c ' o U ^¹^ * ** G° ™e nt °f *<"• ^ "-" be paid

h* J ^ fr U PT e q u i v a l.e nt will be calculated at the composite rate arrived at on the basis of a formula given m Public Notice No. 15-ITC(PN)/72, dated 28th January 972 as amended by the Public Notice No. 108-lTC(PN)/72, dated the 21st July

S t t T l Kg ^f CoSerS. G°V™nt **> *ne *> "™ through Public Notice's nf r^ Go/'™.⁶"* Departments.—In respect of imports made by the departments win h 1 ?rJla\eS°TTeUH ( m c l u d I nS s t a te electricity boards) the documents will be sent direct to the importers, who will ensure that their respective -irnnmits S terr SlPRrX fY a< *^ *<• <3ebita as Md W h en r a i"ed b y f f C St Genera?

a

r }£ Revenues, N ew Delhi, on the basis of the advices issued by the Controller tv, ³", " W/n be *e-!£s.p,onl¹.b-¹?ity ot t he concerned bank In India which has given the guarantee or the State Sank of India or one of the fourteen nationalised blnks as the case may be to arrange for the timely deposits of these amounts before landing over the original shipping documents to the importer. '

*t. ³2,-D ePo s l ¹ :s may be made either at the Reserve Bank of India New r>el>ii ^T the State Bank of India, Tis Hazari Branch DeihJ-6 or remitted by meamTn'f I demand draft from the local branch of the State Bank of India or its S d i a r i es drawn on and made payable to the State Bank of India. Tis Hazari Branch DeThf 6

(drawee and payee) for credit to Central Government account in terms of Ministry Of Commerce Public Notice No. 184-ITC(PN)/68, dated 30th August, 1968 and Public Notice No. 233-lTC(PN)/68, dated the 24th October, 1988. The challan should, inter alia, indicate the amount of foreign exchange the composite rate applied, the date on which the supplier was paid and tHe date of rupee deposit and all other essential particulars prescribed in Public Notice No. 132-ITC(PN)/71. dated 5th October, 1971. The principal amount, the incidental charge (a?, 1 per cent-- ad valorem and the interest payment at 6 per cent should be shown separately. The demaqd draft should be sent direct to the State Bank of India, Tls Hazari Branch, Delhi-6 with treasury challan (duly filled In and signed by remitter) in quadruplicate. The Head of Account to be credited Is "T-Deposlts and Advances Part II—Deposits, not bearing Interest—Civil Deposits—Deposits for purchases abroad under Direct payment procedure under foreign loans and credits", under the detailed -ttead, "Deposits for cost of equipment etc. obtained under FF 180.00 million French Credit, 1973-74".

37. One copyJof the treasury challan and form evidencing the rupee deposit duly receipted by the Reserve Bank of India, or the State Bank of India, Tis Hajari Branch, Dclhl-0, or intimation regarding the furnishing of demand draft to State Bank of India, Tis Hazari Branch, Delhi-6 should be sent by registered post bv the bank concerned to the Controller of Aid Accounts, indicating reference to the letter of instruction issued by him and also enclosing copies of invoice and shipping documents.

38. The Indian bank will also endorse the amount of rupee deposits on the exchange control copy of the Import licence and send the requisite 'S' form to the Reserve Bank of India, Bombay.

Release of Bank Guarantee

39. In the case of private sector contracts, the concerned bank in India after discharging all the obligations in terms of the bank guarantee including remittance of banking and other charges may apply to Controlelr of Aid Accounts for the release of the bank guarantee. The application in this regard will be made in the form given In Annexure IV.

Miscellaneous

40. The Government of India will not undertake any responsibility for disputes, if any, which may arise, between the Indian importer and the French suppliers.

41. The Indian Importer shall promptly comply with any directions, instructions or orders issued by Government from time to time regarding any and all matters arising from or pertaining to the Import licence and for meeting all obligations under the credit agreement with the French Government and French banks,

42. Any breach or violation of any of the condition prescribed herein will result In appropriate action under the Imports and Exports (Control) Act, 1947 and orders issued thereunder.

ANNEXURE I

FPara 25(I1)J

BANK GUARANTEE BOND

To

The President of India,

In consideration of the President of India (hereinafter called the Government) have agreed to arrange for payment in FF for the import of . . . .

by

.H, M I"

SnceX*™^ CMldIt!°nS.Of.the ^ S S S S.

, ,

issued o n . . .. against the above mentioned credit ' We Q r °f t he l m p o r t er Bank, at the request of the Importer hereby undertake'to •arrange "to deposit'within

^ days of the receipt ox the advice of P a ^ g t a j to r^f e

t^ ^ t e° rale " of

exchange of'FF'i 'arrived at' on the basis of the formula given in Public Notice SueA bv the Ministiv oi Foreign Trade, New Deihi, No. 15^ITC(PN)/72, dated 2Tth Tarfuafy 1972 as amended by Public Notice No. 108-ITC(FN)/72, dated 21st July 1972 or'as notified from time to time m public notices of the Government of Indm or A.D. Circulars of the Reserve Bank of India alongwith commission and other charges at 1 per cent ad valorem converted at the above rate tor credit to fee Government account in the manner and against the appropriate Heads of Account as indicated by the Government of India under the said credit together with interest thereon at the rate of 6 per cent per annum, from the date of pay- ment to the French supplier to the date of deposit of rupee equivalent for credit to the Government account. We shall arrange the deposit to the credit of ttic Government in the Reserve Bank of India, New Delhi, State Bank of India, Tib Hazari Branch, Delhi-6, or where this may not be feasible by means *t a Demand Draft drawn on and made payable to the State Bank of India, Tis Hiuarl Branch, Delhi-6 (for credit to Central Government Account) The demand dialL shatL be sent direct to State Bank of India, Tis Hazari Branch, Delhi-6 alongwith Treasury Challan (duly filled in ana signed by remitter), in quadruplicate.

2 We the . - . . - * ' *' * ' Bank, also undertake" that'thenegotiable' set of import documents will be released to the Importer only after the rupee deposits contemplated aboue haoe bean maae,

3. We the

.., :. . . .. Bank, also undertake to indemnify and keep indemnified the Government against any default in payment by the importer of any sum that may be due and payable from time to time by the importer to the Government at such place and in such manner as the Government may direct, such sums not exceeding Rs

, or any part thereof, for the time being due and payable by the importer togeher with interest thereon at the rate of six per cent per annum, from the date of payment to the French Supplier and commission and other charges ® I per cent ad valorem. The decision of t he Government es to any default in the saia payment by the importer, or on his part a nd m regard to the amount payable to the Government by us Bank, shall be final and binding on us Bank.

4- "Wo

, Bank, alao undertake to remit the banking a nd postal Including cable charges payable to the French bank concerned and recover the same from the importer without affecting the Govern- ment of India account.

⁵- W? - • •

• • • • -Bank, further agree that in -case of increase in the value of imports or increase in the value of unfulfilled deliveries under the contract as a result of change In IMF parity rate of exchange or otherwise, the amount of this guarantee bond will be adjusted as on the date When the change takes place, In porportlon to this change.

& We

Bank, further agree that the guarantee herein contained shall remain in full force and effect during the period that would be taken for the Performance of the said agreement/contract regarding delivery of the equipment and that it shall continue to be enforceable till all the dues to the Government under, or by virtue Of this guarantee have been fully paid and its claims satisfied or discharged,

7. The Guarantee herein contained shall not be affected by any chance in the

*

constitution of t he importer or the Bank, and the Government shall have the fullest liberty without the guarantee to postpone for any time and from time to time any of the powers exerclseable bv it against the importer and either to enforce payment by the importer of any of the amount the payment whereof is intended o be hereby secured and the • • • • • ; ,; ••• • • Bank, shall not be released from' its liability under this guarantee by any exercise of the Government of the libertv with reference to the matter aforesaid or by reason of time being given to thp irnnnrfpr or any other forbearance, act or omission on the part of the Government of any Indulgence by the Government to the importer or by any other matter or think

whatsoever which under the law relating to sureties shall, but for this provision, have the effect of so releasing the Bank from its such liability.

8. We

Bank, lastly undertake not to revoke this guarantee during its currency, except with previous consent of the Government in writing.

9. Our liability under this guarantee is normally restricted to Rs @ . . ..

i haiyts not expected to exceed one per cent of the guaranteed amount) and this guarantee shall remain in force till tne day*-of (Month) 19

10. We

, however, undertake to make such additional deposits as may be necessary in terms of Public Notice No. 15-ITC(PN)/ 72, dated 28-1-72, as notified from time to time. Unless claims under this guaran- tee are made in writing within six months of this date and unless a suit or action to enforce these claims Js commenced within another six months thereafter, i.e., upto , all rights of the Government of India under this guaran- tee shall be forfeited and we shall be relieved and discharged from all liability thereunder.

Dated the day of ..

Accepted for and on behalf for Accepted for and on behalf of the President of India by Shri

(Name and designation)

Signature

@Thls amount should be worked out by adding 1% to the value of the contract at the Central rate of 1 FF=Rs. 1,422.

•This date shall be arrived at by adding one month to the date by which all payments to the Suppliers are expected to be finalised.

NOTE.—The value of the Stamped paper on which guarantee is to be executed is to be adjudicated by the Collector of Stamps.

ANNEXUKE II

(In duplicate)

To

The Secretary, Ministry of Finance, Department of Economic Affairs, W.E.I. Section, North Block, New Delhi-1.

SUJECT.—Import under the French Credit

Sir,

In connection •vdth the import of

(Short description of the goods or services) from France under the above credit, we furnish the following particulars: —

(a) Name and Address of importer. (b) Import Licence: (i) Number (11) Date (ill) Amount

(c) Name and Address of the French

suppliers:

Id) Date of the conract:

OR

Date of Suppliers final letter of acceptance of the order

(e) Short description of goods to be

imported;

(f) Value of the contract: FOB Price

Freight Insurance

TOTAL

(g) The different dates on which the equipment will be shipped or servi- ces performed, the value of each shipment, or service performed, : bused on the delivery schedules as stipulated in the contract;

(h) The date on which payments under

the contract will fall due.

(i) in respect of advance payment (ii) Other payments.

2. Ten certified copies of the contract (or each of the order and the letter of acceptance) and of the amendment (if any), and a photoitat copy of the import licence are enclosed.

Applicable to importers in private sector

•3. A bank guarantee established by .,

(name and address of the Indian

bank, authorised to deal in foreign exchange)

and which has been duly adjudicated by the Collector of Stamps, in accordance with Section 31 of the Stamp Act, 1899, is also attached.

OR

Applicable to the Public Sector Undertaking.

•3. The import documents may be sent to the

(complete name and postal

address of the branch of the Slate Bank of India or of any of the fourteen

nationalised. t>anks). who will release the documents to us only after making the deposit of the rupee equivalents into Government account calculated at the composite rate of exchange arrived at on the basis of the formula given in Public Notice No. 15-ITC(PN)/72, dated 28-1-72 as amended by Public Notice No. 108-ITC(PN)//72, dated 21-7-72 or as notified from time to time by public notices of the Government of India or by A.D. Circulars of the Reserve Bank of India with Interest at 6% per annum from the date of payment to the French suppliers to the date of deposit of rupee equivalent and commission and incidental charges at 1% ad valorem and after remitting banking charges (l/8th of one percent documentation charges plus tax @ 17.60% thereon) and expenses lor actual postage charges as required under the licensing conditions.

OR

Applicable to Departments or Central and State Governments (including

electricity boards)

•3. Debits relating to the transactions and adjustable in the books...

(Designation and complete postal Address of the Accounts Officer). and we shall ensure that they are adjusted as soon as they are raised in terms of the licensing conditions. (*) Delete whichever is not applicable.

4. You are requested to get the contract approved for financing under the French credit and issue necessary authorisation to the French authorities to arrange for payments to th.-, ..-pplicre or their bankers.

Yours faithfully,

Licencee.

ANNEXURE III

Illustrative List of Documents

(Para 28)

1. Commercial invoice for the value of the equipment shipped and for details- of any down payments, as the case may be.

2. Complete set of clean-on-board ocean or charter party bills of landing or air way bills; as the case may be, with packing lists where applicable, certificates if any prescribed In the contract.

3. Written attestation from the suppliers along with necessary customs docu- ments, certifying that the French suppliers have complied with the percentage of french expenses authorised by the French Government.

4. Any other documents.

ANNEXURB IV

Form of Application -for release of Bank Guarantee

(Para 39)

To

The Controller of Aid Accounts, Ministry oi F i n a l e, . Department of Economic Anairs, Jeevan Deep Building, 10, Parliament Street, New Delhi-1.

Sir,

(i) The name and full address of the K importer/licensee on whose behalf the bank guarantee was furmshed. ( i i\ The import licence No., date, value brief description of the equip- ment'and/'or commodities allowed for import thereunder.

Finance (tp.be given separately for each Letter of Instruction). (a) Letter No. and Date. (b) Amount for which the instruc-

tion bad issued.

(,iv) Particulars of Imports and rupee

deposits made; (a) Invoice No. and date (b) Amount of invoice (net) in

French Francs.

(el Amount of rupee deposits

(d) Relative challan no. and date

and the name of Treasury/ Bank.

fe) If by demand draft, JNTo. and date of fhe demand draft and No. and date of the letter with which the draft was sent to the State Bank of India, Delhi.

(v) Amount utilised and balance unuti- lised in French Francs under each Letter of Instruction.

2. We certify *that the balance amount of French Francs available in the Letter of Instruction given by the Ministry of Finance will not be utilised/our obligations under the Bank guarantee in question have been duly discharged.

3. We also confirm that the Banking and postal charges including cable charges payable to the French bank have been duly remitted by us to the French Bank.

4. We request that the bank guarantee may please be released and returned to us for cancellation.

Yours faithfully,

Authorised Agent for and on behalf of the Bank.

*Whichever is applicable.

[ K RT J—SEC. 1] 1HE UAZKTTE OF lIvlDIA BXTRAORDllStAkY t)07

Subject :—Import Policy for the year April 1973—March 1974.

No. Ha.—ITC (PN)73 Attention of importersis invite itoimport policy as contained in

the Import Trade Control Policy (Red Book-Vol I) for the period April 1973—March 1974,

2. The following amendments shall be made at appropriate places in the Import Trade Control Policy (Red Book—Vol I) for the period April 1973—March 1974 :—

Details of amendments

Reference 1

Page No. of the Red

Book (Vol. 11

19

1 Below the existing paragraph 139, the follow- ing new paragraph may be deemed to have been inserted : —

Section I, Part 'G' Proccdura matters—S.No. (ixl —Facili ties for Development and Research activities.

"139-A, Import of bona-flde technical and trade samples can be made upto Rs. i,ooo/- without an import licence under O.G.L IV, Requests for import in excess of Rs, 1,000/- and upto Rs. 5,000 will be considered by the regional licensing author- ities."

70

Section II, Part V.

Below the S. No. 101-A/V the following entries may be deemed to have been inserted under th e respective columns :—

1

2

4

3

101-C.

(1) A.U. on restricted basis for manufacture Ccllolose acetate film scrap. Nil.

of bBngles.

(2) Import of cellolose acetate off-cuts and

cuttings will not be permitted,

Details of amendments.

Reference

Page No. of the Red Book (Vol I)

2 86

For the existing entry "Mohilean ' M" Section V, Appendix 43, S. No.

J3—

Read"Mobilcar'M'."

Cones for Loudspeakers, item

No. (li),

Section V, Appendix 74, Part V.

343

Below the S. No. 101-A/V, the following entries may be deemed to have been inserted under the respective columns :

I

2

3

101-C Callolosc acetate film 50% of the face value of the licence, scrap,

Section V, S. No. 22, 31/V

348

(Appendix 28), item No. 14— Phosphorous (red), column 3.

For the existing entry "Release orders will be issued to the extent of .35% of the entitlement."

Read "Release orders will be issued to the

extent of 5% of the entitlement."

S. G. BOSE MULLICK.

Chief Controller of Imports and Exports.

PRINTED BY THI MANAGER, GOVERNMENT Op INDIA PRESS, MINTO ROAD, NEW

DELHI AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DELHI, 1 9 73