Page 4 - Sez

In a first, 11 entities get approval for units at GIFT SEZ virtually

Teleconference used in approval process; the 11 entities carry potential to create 500 jobs

Six months after ban, plastic recycling units in SEZs see ray of hope

Commerce ministry favours of restart using imported virgin scrap as raw material; MoEF likely to give its official assent soon

Adanis' Rs 650-crore offer for debt-ridden Dighi Port gets NCLT nod

The NCLT has approved Rs 650-crore resolution plan submitted by Adani Ports & Special Economic Zone (APSEZ) for debt-ridden Dighi Port, located south of Mumbai. The resolution came with a huge 79.2 per cent haircut to the lenders, as they had made a claim of Rs 3,098 crore. The successful bid will give the Adanis access to Maharashtra, where it had no presence, even though the group straddles the entire coastline of the country with 11 operational ports and an under-construction transshipment terminal at Vizhinjam in southern Kerala. It can be noted that Dighi Port was the first port to go for a bankruptcy in April 2018. The 16-member committee of creditors (CoC) led by Bank of India, which collectively have 99.68 per cent voting shares, has approved APSEZ's revised offer of an upfront cash payout of Rs 650 crore, the National Company Law Tribunal (NCLT) said in an order dated March 5. Dighi Port, promoted by industrialist Vijay Kalantri owes Rs 3,098 crore to the lenders. He had

Tata's Gopalpur industrial park breaks jinx for investments in SEZ

Two units set to start operations in 4-5 months

Govt plans to remove minimum alternate tax on SEZs, boost exports

Govt also considering reducing duties on domestic sales

IL&FS group gets approval to sell stake in Mangalore SEZ at fair value

IL&FS is expected to assess the fair market value of its stake in the JV and execute the sale at an appropriate price

All existing notified SEZs deemed to be multi-sector SEZs: Government

Aim is to get more entities to set up manufacturing facilities in SEZs and to help developers to monetise their unutilised land

Govt announces reforms to existing special economic zones framework

Henceforth, all existing and new SEZs would become multi-sector SEZs thereby enabling coexistence of a SEZ unit from any sector along with any other SEZ unit

Tamil Nadu's SEZ in comeback mode with big-ticket investment commitments

Investments by two mobile component manufacturers in the SEZ that disintegrated after the freeze on Nokia plant have brought fresh hope to the state

No customs duty on transfer of goods from one SEZ to another: Expert

For accounting purposes, the depreciation can be worked out as per the Companies Act and for income tax purposes, as per income tax laws

WTO backs US in trade dispute, says India's export subsidies illegal

The US has also cornered India at the multilateral platform, stating WTO rules prohibit middle-income nations from providing market distorting export subsidies at all

Ordinance to clear SEZ status under GST coming next week

An amendment will be made in the SEZ Act, 2005, to bring it in line with the GST architecture

SC notice to Centre, states on plea seeking return of unused land for SEZ

The PIL filed by SEZ Farmers Protection, Welfare Associations, an NGO, has also sought a CBI probe

Developers of new SEZs need security clearance from MHA

Proposals for new SEZs sent to Dept of Commerce must carry development commissioner's note on need for national security clearance

No proposal to expand range of tax concessions for SEZs: Government

SEZ is a designated duty free enclave and developers of such facilities would get direct as well as indirect tax concessions

Govt allows cancellation of 4 SEZ projects

SEZs are exports hubs, which contribute about 16 per cent to the country's total outbound shipments, Commerce Ministry is taking steps to revive investors interest

Centre to bring legislative changes in SEZ, FTA acts

There is expectations that the GST would boost GDP by 1-1.5% per annum

ACB to expedite probe in SEZ scam, submit report in 30 days: Goa CM

38,000 lakh square metres of land was allegedly given to SEZ promoters, making the entire scam worth Rs 40,000 crore

SEZ proposals do not fit in with government policy: Bratya Basu

He said that the state IT policy had been framed keeping all the companies in mind and not for an individual one

SEZ review not to hurt industry: Nirmala Sitharaman

The minister said that the Centre has no role in allotting land for special economic zone.