Commitments and contingencies |
12 Months Ended |
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Dec. 31, 2016 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and contingencies | 28. Commitments and contingencies Capital commitments As of December 31, 2015 and 2016, the Company has committed to spend $8,237 and $5,185, respectively, under agreements to purchase property, plant and equipment. This amount is net of capital advances paid in respect of such purchases. Bank guarantees The Company has outstanding bank guarantees amounting to $11,748 and $11,958 as of December 31, 2015 and 2016, respectively. Bank guarantees are generally provided to government agencies and excise and customs authorities for the purposes of maintaining a bonded warehouse. These guarantees may be revoked by the government agencies if they suffer any losses or damages through the breach of any of the covenants contained in the agreements governing such guarantees. Other commitments The Company’s business process delivery centers in India are 100% export-oriented units or Software Technology Parks of India (“STPI”) units under the STPI guidelines issued by the Government of India. These units are exempt from customs, central excise duties, and levies on imported and indigenous capital goods, stores, and spares. The Company has undertaken to pay custom duties, service taxes, levies, and liquidated damages payable, if any, in respect of imported and indigenous capital goods, stores, and spares consumed duty free, in the event that certain terms and conditions are not fulfilled.
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