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INFORMATION ON PAYMENTS HELD UP DUE TO UN SANCTIONS / NON-ACCEPTANCE OF DOCUMENTS BY INDIAN BANKS
 

 

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Ref: PXL/H.O./CIR-067/2016-17                                                      Date: 01.11.2016

Hyderabad

INFORMATION ON

PAYMENTS HELD UP DUE TO UN SANCTIONS /

NON-ACCEPTANCE OF DOCUMENTS BY INDIAN BANKS

To,

All the Members of Council,

Dear Sir / Madam,

We wish to inform that some of our members have brought to the notice of Council that they are facing problems in receiving the payments from some countries like Sudan, Iran, Myanmar, Uzbekistan, Syria etc., due to UN sanctions / non acceptance of documents by Indian banks.   Council made several representations to the Government seeking its support on the above issue. Senior officials of various departments are discussing on the subject for   to sort out the issue.  In this regard, Council received a communication from department of Commerce asking for Country-wise/Company-wise details of payments held up due to UN sanctions and due to non-acceptance of LCs / documents by Indian Banks.

 

We, therefore, request the members who are facing such problem to provide the information in the following format:

Sl. No.

Name of the Company

Country where payment is held up

Amount in US$

Reasons for not realizing the payment

Payments held up since

 

 

 

 

 

 

 

 

 

 

 

 

 

In case members had to cancel their orders due to above reasons, same also may be indicate in the above format, clearly indicating the reasons.

 

Since we are required to compile the above data and submit to the Government by 2nd November 2016, members may please provide the data by sending a mail to info@pharmexcil.com  before 1800 hours on 1st November 2016.

With regards,

Dr. P V Appaji

Director General

H.O.: 101, Aditya Trade Centre, Ameerpet, Hyderbad-500038
Tel: +91-40-23735462/66, Fax: +91-40-23735464
Email: info@pharmexcil.com Website: www.pharmexcil.com