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India : Extension of Deadline for SEZ Developers
Publish Date : 28-Feb-2015
In terms of Rule 6(2)(a) of the Special Economic Zones Rules, 2006, the letter of approval granted to a Special Economic Zone (SEZ) developer is valid for a period of three years within which time effective steps are to be taken by the developer to implement the approved project.
The Board of Approval may, on an application by the developer, extend the validity period of the letter of approval. In last three years and current year, 224 Developers have sought extension of time for the execution of their projects including one Developer from the State of Jharkhand, i.e. Adityapur Industrial Area Development Authority for setting up a SEZ at Adityapur, Jharkhand.
Out of the said 224 applicants, 211 Developers have been granted extension of time, including Adityapur Industrial Area Development Authority.
