INDIAN FIRMS EXECUTING CONTRACTS ABROAD:

(a) Import of vehicle may be made after substantial completion of the project/winding up of the foreign office, subject to the production of a letter of approval from the Reserve Bank of India showing the permission of the Reserve Bank of India for the purchase of the vehicles abroad for the execution of the contract.

(b) The vehicle should have been in the use of the firm/company abroad for atleast one year.

(c) The vehicle shall not be sold, transferred or disposed off in any manner by the importer for a period of five years from the date of importation of the vehicle into India. If the importer wants to dispose off the vehicle within this period, he shall be free to sell it to the State Trading Corporation of India or to an eligible importer covered by any one of the categories C, D, E and F mentioned in this Public Notice.

Last update on: 6 July 1998.