Objection Certificate' (NOC) or 'Letter of Consent / Cooperation'
(LOC) from the respective District / State Chemists and Druggists
Associations, affiliated to AIOCD ... give effect to the decisions
contained in the MOUs pertaining to NOC/LOC, PIS charges, fixed trade
16
margins also amount to an anti-competitive
Agreements ('FA Agreements') with six
different land owning companies ('LOCs') to enable them to purchase tracts of land in the
vicinity ... relevant clause (3) of the FA agreement with one of the LOC is reproduced
hereunder:
2
ITA No. 468/Kol/2019
M/s. Luxmi Township
interest for late payment and also in
opening the Letter of Credit (LOC). Through the said
default notice, the Respondent intimated to the Appellant ... right of termination of
contract.
(2) The Letter of Credit (LOC) was not opened by the
Appellant since the respondent has not insisted
Informant has to
maintain a Letter of Credit (LoC) as security. The Opposite Party
prescribes the format of the LoC from time to time ... format requires a
Minimum Guaranteed Off-take to be covered by the LoC. This
condition sources out of nowhere and reflects the abusive mind
appointing new or additional stockists in any area. The NOC/LOC can be obtained only after respondents Nos. 22 to 33, have complied with ... disposal of the enquiry from continuing with the system of NOC/LOC as spelt out in the guidelines issued by respondent No. 1 and worked
accounts. Firstly, NOC or Letter
of Cooperation (hereinafter referred to as "LOC") from the state
Chemists and Druggists Association is necessary ... stockist or additional stockist. If the Association does not grant
NOC/LOC, new or additional stockist cannot be appointed. Secondly,
pharma companies cannot introduce
submission that
the development rights had not been transferred by LOC to D CPC and
obviously nothing has come to DLF - the present appellant ... assign or transfer all the development rights acquired from
Land Owning Companies (LoCs) who are subsidiary or associated
companies of DLF group. D CPC entered
Length Price at 1.65% on the value of
Letter of Comfort (LOC)/Guarantee offered by the assessee on behalf of its
associated enterprise.
4. Brief ... ascertained that the assessee
has provided LOC/guarantee to the tune of ₹.4.46 crores on behalf of its
AE M/s. Parry America Inc. Accordingly
Length Price at 1.65% on the value of
Letter of Comfort (LOC)/Guarantee offered by the assessee on behalf of its
associated enterprise.
4. Brief ... ascertained that the assessee
has provided LOC/guarantee to the tune of ₹.4.46 crores on behalf of its
AE M/s. Parry America Inc. Accordingly
fees or
commission from its concerned AEs, the issuance of LOCs, is not an international
transaction and does not trigger applicability of Section ... accruing to the assessee from the issue of each of the LOCs aforesaid.
2.9 Without prejudice to the foregoing ground, and assuming whilst denying that
