6C.16
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Extension of Time Limit
In cases where an exporter has not been able to realise proceeds of a shipment made by him within the period prescribed (i.e the due date for payment which has to fall within six months from the date of shipment, vide Rule 8 of Foreign Exchange Regulation Rules, 1974) for reasons beyond his control, but expects to be able to realise proceeds if extension of the period is allowed to him, necessary application (in duplicate) for the purpose should be made to Reserve Bank in form ETX together with appropriate documentary evidence. Extension will not ordinarily be granted unless Reserve Bank is satisfied that the exporter is in no way directly or indirectly responsible for the delay in realisation of proceeds and that by grant of a short extension the exporter will be able to realise proceeds.