Annexure 1
Date: 12.09.2024
Disposal Instructions for the inward remittance.
With reference to your e-mail and/or telephonic intimation dated 12.09.2024, we furnish below
the desired information for disposal of the inward remittance.
1. Details of Inward Remittance:
1 Foreign Currency & INR 242125
Amount
2 Name & Address of Gopinathh Rajendran, Embassy residency, perumbakkam,
Remitter chennai 600100
3 Value date 22.08.2024
4 Purpose Details : Engineering Services Code: P1014
(a) Offsite Software Exports
(b) Exports other than
advance payment (give
bill no)
(c) Advance payment
against exports-
Shipment to be made
within 12 months of
receipt
(d) Other receipts (Not
covered in above)
DECLARATION-CUM UNDERTAKING
(Under Section10 (5), Chapter III of The Foreign Exchange Management Act, 1999)
I / We hereby declare that the transaction the details of which are specifically mentioned in the
schedule hereunder does not involve, and is not designed for the purpose of any contravention
or evasion of the provisions of the aforesaid act of any rule, regulation, notification, direction or
order made there under. I/ We also hereby agree and undertake to give such information/
documents as will reasonably satisfy you about this transaction in terms of the above
declaration. I/ We also undertake that if I/ We refuse to comply with any such requirements or
make only unsatisfactory compliance therewith, the bank shall refuse in writing to undertake the
transaction and shall if it has reason to believe that any contravention /evasion is contemplated
by me /us report the matter to Reserve Bank Of India.
*I / We further declare that the undersigned has/have the authority to give this declaration and
undertaking on behalf of the firm/company.
#'Software' means any computer programme, database, drawing, design, audio/video signals,
any information by whatever name called in or on any medium other than in or on any physical
medium. We hereby declare that we will be filing SOFTEX form for certification for the underlying
transaction for which the inward remittance has been received and the certified SOFTEX form
will be submitted to ICICI Bank within 21 days of certification.
Registered Office: Level 9, Olympia Teknos Park, No. 28, SIDCO Industrial Estate, Guindy, Chennai – 600032.
www.rythmgroup.in, globalsupport.centre@rythmgroup.in
We hereby declare and represent that the underlying transaction for which inward remittance
has been received does not include:
• Any person/ entity sanctioned by OFAC, European Union, UK HM Treasury, United Nations,
India and/ other such authorities/ countries
• A sanctioned country viz Myanmar*, Iran, North Korea (Democratic People’s Republic of
Korea), Cuba, Syria or Sudan
* In case of transactions involving Myanmar, the available underlying documents (e.g. Proforma
invoice, bill of lading, etc.) to be submitted for processing the inward remittance.
2. Where the shipment of goods is to be made within one year from the date of receipt of
advance payment, we hereby confirm and undertake that;
1. The shipment of goods will be made within one year from the date of receipt of advance
payment and shipping documents will be routed/submitted to the Bank within 21 days of
the date of shipment;
OR
The software will be exported within one year from the date of receipt of advance
payment and certified SOFTEX will be submitted to ICICI Bank within 21 days of
certification
2. the rate of interest, if any, payable on the advance payment does not exceed London
Inter-Bank Offered Rate (LIBOR) + 100 basis points;
3. In the event of our inability to make the shipment, partly or fully, within one year from the
date of receipt of advance payment, no remittance towards refund of unutilized portion
of advance payment or towards payment of interest, shall be made after the expiry of
the said period of one year, without the prior approval of the Reserve Bank.
4. The export advance will not be used for repayment of loans availed of from Indian
Banks.
5. Please find enclosed the Underlying bill copy/Confirmed order copy/Agreement
copy/Contract Copy clearly defining the expected date of shipment to the Bank along
with this instruction.
3. Please arrange to credit the said inward remittance in the following manner.
S/No Particulars Currency Amount
(a) Adjust EPC No.______________, if any
(b) Credit to EEFC or Foreign Currency Account
No.___________________
(c) Credit the balance and/or full amount into operative INR 242125
account No.
924020007370189 at the exchange rate, if already
contracted, & given in para 4 below.
Note: Any one or two or three of the above options may be applicable. Please complete
accordingly.
4. Details of Exchange Rate Contract, if any.
Sr. Particulars Exchange Currency Amount
No. Rate
(a) Deal ID No.________________ booked on_______
(b) Utilization of Forward / Option Contract
No.___________ booked on _________.
(c) Balance amount/ full amount ( if no deal and/ or -XXX-
forward contract booked) be taken at prevailing
exchange rate
Note: Any one or two or all of the three options as given herein above may be applicable. Please
complete accordingly.
Registered Office: Level 9, Olympia Teknos Park, No. 28, SIDCO Industrial Estate, Guindy, Chennai – 600032.
www.rythmgroup.in, globalsupport.centre@rythmgroup.in
We shall supply the additional information/ documents required if any, in the matter upon hearing
from you. Your charges may be debited to our account No.924020007370189 with you.
Yours faithfully,
For RYTHM GROUP
Authorised Signatory
(Name GOPINATHH RAJENDRAN)
Registered Office: Level 9, Olympia Teknos Park, No. 28, SIDCO Industrial Estate, Guindy, Chennai – 600032.
www.rythmgroup.in, globalsupport.centre@rythmgroup.in
