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HC on Entitlement to extension of usance period of Letter of Credit Facility from 180 to 270 days
Case Law Details
- Case Name
- Rajgaria Timber Private Limited And Others Vs State Bank Of India And Others (Calcutta High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Calcutta High Court
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Rajgaria Timber Private Limited And Others Vs State Bank Of India And Others (Calcutta High Court)
BRIEF: The Hon,ble Calcutta High Court, throws light on the matter of extension of the usance period of the Letter of Credit Facility sanctioned to the writ petitioners from 180 days to 270 days.
OUR COMMENTS: The argument that the 2018 Regulations brought about a change in policy regarding the usance period for credit does not hold water, since the said Regulations and the Master Direction on External Commercial Borrowings and Trade Credits dated July 1, 2015, updated up to Oc...
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