M/S Adani Port & Special Economic Zone ... vs Commissioner Of Service Tax, Ahmedabad on
that the said Letter of Credit was amended as under :-
"TRANSFER OF LC TO THIRD PARTY PERMITTED."
It deserves to be mentioned here ... thereto. At page 538, it is stated that a credit can be transferred only if it is expressely designated as "Transferable
negotiation of the documents under the LC. As such, the LC was not transferred or
endorsed in favour of the SBI.
Similarly, In Federal Bank ... proceedings against the HSBC if
the LC was dishonoured wrongly by the HSBC, because
the LC was not transferred in favour
exporters to undertake the balance export
obligation which resulted in transfer of LC to those exporters also, and commission was
paid to M/s. Behariji ... agent persuaded the buyer and in the LC those two parties were made second beneficiaries
of the LC who ultimately exported the remaining quantity
order to clear the `entire outstanding payment', and to transfer Rs.110
Crores LC facilities to `South Indian Bank ... cleared the entire CC and
LC facilities as on 07.10.2016 itself and requested the bank to transfer its
account to SIB. Thereafter, the company
goods in shipyard also failed since the opposite parties failed
to transfer the LC documents. Hence, the entire consignment sent
13
by the complainant
Anjali Srivastav issued vide Circle office Lucknow letter No.
LC:HRM:TRANSFER:626237:1:2021 dated 01.07.2021. Provide copy of noting
sheet on which decision
transferred to Palghat, Kerala. Then "he" wa8 teatisforred to
Southem Railway, Egmore, Chennai and on 03.08.2023, again the
applicant was transferred to LC ... 00108 /2024
Assistant Supervisor to the applicant. On 08.01.2024, the applicant was
transferred to ICE/Shell with the remarks " SrAudit Officer/ICF Sheel
appeal
dt.5.6.08 with the Appellate Authority. The AD(LC/PG) transferred the appeal
to the Chief Post Master, Lucknow
Appellant had to make the due
payments through irrevocable Letter of Credit (LC) opened in
favour of the Respondent NLC. It also provided that ... negotiated through the LC provided that the credit for the
amount was transferred to NLC's account on the date of
presentation