Comparable 34,25,33,470
Uncontrolled Price
2. Standby letter of credit (SBLC for No Benchmarking 6,32,40,000
short) Required
3. Corporate Guarantee ... transactions in relation to Corporate
Guarantee (CG) and standby letter of credit (SBLC) were international transactions
and proceeded to make a reference
connection thereto, SCPKL had issued a Stand-By Letter of
Credit ('SBLC') in favour of Axis Bank, Hong Kong by pledging its
assets ... From the copy of the SBLC placed at pages 40-47 of the
Paperbook, it is noted that the SBLC was principally issued by SCKPL
Negotiable Instruments Act, 1881 from the respondent
No.2 mainly contending that SBLC loan / credit facility
obtained by Sterling Global Oil Resources Pvt. Ltd.,
Mauritius ... 1789/2017 ORDER DATED: 26/07/2023
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with UCO Bank and SBLC Credit facility of USD 232
Million from UCO bank, MID Corporate branch
Resources
Pvt. Ltd., Mauritius group of companies of Sandesara Group for
obtaining SBLC loan/credit facility of USD 232 million from the
complainant UCO Bank ... 6729/2017 ORDER DATED: 22/02/2023
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"3. That the SBLC loan/credit facility obtained by
STERLING GLOBAL OIL RESOURCES PVT. LTD.,
Mauritious
Resources
Pvt. Ltd., Mauritius group of companies of Sandesara Group for
obtaining SBLC loan/credit facility of USD 232 million from the
complainant UCO Bank ... 6731/2017 ORDER DATED: 22/02/2023
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"3. That the SBLC loan/credit facility obtained by
STERLING GLOBAL OIL RESOURCES PVT. LTD.,
Mauritious
Central
Bank of Djibouti asked the Bank of Africa to issue a SBLC
guarantee to HSBC for US$ 3 Million for the purpose of investing ... According to the second agreement Govt. Of Djibouti supposed to
issue SBLC of USD 6.99 Million in the favour of Karuturi Overseas
Limited and initially
Resources
Pvt. Ltd., Mauritius group of companies of Sandesara Group for
obtaining SBLC loan/credit facility of USD 232 million from the
complainant UCO Bank ... complaint. Few assertions deserves to be quoted
hereunder :-
"3. That the SBLC loan/credit facility obtained by
STERLING GLOBAL OIL RESOURCES PVT. LTD.,
Page
Performance G) Singapore Pte
Ltd.
3. Bilcare Singapore Pte SBLC - USD USD 4848.71
Ltd. Indusind Bank 6,500,000 6,500,000
4 Bilcare Packaging ... SBLC - The USD USD 6603.46
Ltd. Jammu & 10,000,000 10,000,000
Kashmir Bank
5 Bilcare Packaging
length price of corporate guarantee fees
& Standby Letter of Credit (SBLC) fees, extended by the
Appellant to the bankers of the Associate Enterprises ... that the assessee
had also granted corporate guarantee in the form of SBLC to ICICI Bank
3
ITA No.524/Del./2021
for giving credit
stock position at month end and this data shall be
shared with SBLC/BG issuing bank.
iii. ..........
30. At this juncture, it would be necessary
