It was difficult to set up a unified zone on the SEZ land.
The Development Commissioners have recommended to the Board of Approval to cancel these SEZ projects.
The decision was taken at a meeting of the Board of Approvals held at New Delhi.
The decision was taken by an inter-ministerial Board of Approval.
The JV was established for development of SEZs/Model Economic Township project and other infrastructure facilities in Haryana.
In the wake of the Union Budget proposals, developers of Special Economic Zones (SEZs) say the scheme is heading for an end, with investors' interest certain to reduce drastically.
According to a department notification, Tech Mahindra has approached the Board of Approvals under the Department of Commerce for transferring rights of three SEZs (one in Tamil Nadu and two in Andhra Pradesh) and the proposal will come up for a discussion before the BoA on August 30.
Amid controversy over the setting up of China-style special economic zones, India on Thursday said the government recognised SEZs as 'an useful tool' in furthering industrialisation but will implement the concept in its 'own way'.
Changing the rules of the game for developers or units who have already committed funds upsets the financial calculations that guided the investment decision. It is another matter if the government makes it clear that newcomers will be subject to taxes.
Around 55 per cent of land in the 36 operational special economic zones (SEZs) in Tamil Nadu is lying vacant owing to various reasons, including the recent economic slowdown.
Parsvnath SEZ Ltd -- the subsidiary of Parsvnath Developers -- now has two notified SEZs for IT/ITES sectors at Indore and Gurgaon with a combined developable area of over 16 million square feet.
IT services giant Infosys will start construction of a proposed software development centre in the metropolis by July 2021, West Bengal Chief Minister Mamata Banerjee said on Tuesday. The project will generate massive employment in the IT sector, she said after a cabinet meeting at the state secretariat.
Clarifying the issue of applicability of penal provisions in SEZs, the government said the the SEZ would come under the the Foreign Trade (Development and Regulation) Act. The Foreign Trade Act provides for punishment for violation of the foreign trade rules. Besides exporters and importers, it also covers export-oriented units.
There are 344 notified SEZs spread across 40,000 hectare in the country that have so far attracted Rs 1 lakh crore (Rs 1 trillion).
In 2011, the Trinamool manifesto had said, the government would not allow SEZs in West Bengal, to protect multi-crop lands.
West Bengal on Wednesday decided to repeal the Special Economic Zone (SEZ) Act, 2003, clearing the road for other incentive schemes the Mamata Banerjee-led government is likely to announce over the next few weeks.
No more than 62% of farmland acquired for Special Economic Zones has been used for its intended purpose of boosting manufacturing, exports and jobs
Commerce ministry monitoring remedial measures to promote exports in key markets.
The Mukesh Ambani-controlled Navi Mumbai SEZ Pvt Ltd has been charged with indulging in illegal land-filling activity by the tehsildar of the Panvel taluka. Navi Mumbai SEZ is developing a Special Economic Zone over 2,000 hectares in association with Cidco, the Maharashtra government's industrial and township development arm. When contacted, D L Kedare, the tehsildar of the Panvel taluka, said the machinery at the two sites (Ulve and Roadpalli) has been confiscated.
The much-touted special economic zones policy runs the risk of being reversed, in terms of attractive tax exemptions it offers, with the government's finances coming under stress, a study has said.
Infrastructure developer GMR Group plans to set up an airport-based special economic zone near the new Hyderabad International Airport, which it has the mandate to develop.
Lower minimum area of land required for multi-product SEZs to 250 hectares from 1,000.
First reversal after last year's protests in the state.
SEZs promoted by Reliance, Raheja, IFFCO may benefit.
Singapore has decided to set up a model special economic zone in India, based on which will be set up two other SEZs. They will be known as Singapore India economic zones.
Andhra Pradesh is to house the country's first Special Economic Zone (SEZ) for Small and Medium Enterprises (SMEs). The first phase of the project, meant to house about 60 SME pharmaceutical manufacturing units in 200 acres of land is to be ready by mid-2008.
With a comprehensive SEZ Act in place, the Union Commerce and Industry minister Kamal Nath said his ministry would go ahead with the plans to develop SEZs across the country, despite oppositions from the finance ministry.
Who owns the Navi Mumbai SEZ project? That's the question the IT department seems to be asking.
Scores of leading SEZ promoters, including Infosys Technologies, CMC Ltd, Hindalco Industries, NIIT Technologies, HCL Technologies, Orient Craft Infrastructure, L&T Phoenix Infoparks and K Raheja Corp, have sought more time from the Board of Approval, which is meeting in New Delhi on June 2.
Requirements on minimum size, contiguity and vacant stretches to be eased; MAT and DDT to stay
Reliance Haryana SEZ, a joint venture between Reliance Ventures Ltd -- an Reliance Industries subsidiary, and Haryana State Industrial and Infrastructure Development Corporation has so far bought 7,001 acres of land in Jhajjar district and about 1,200 acres and 1,383.68 acres of HSIIDC land in Gurgaon.
This move to sell a part of its land holding in one of its SEZ is part of an overall move by GMR to exit some of its assets as part of its 'asset light -- asset right' strategy.
Even as the freeze on all decisions and notifications for fresh special economic zones continues, the government on Friday gave its nod for authorised operations in 30 notified SEZs, while granting co-developer status to five zones.
Analysts point out that exporters outside SEZs enjoy Cenvat credit against service tax paid on a host of services subscribed to while engaging in export-related activities. In addition, the department of revenue recently permitted service tax exemption on seven services used by exporters.
Under its IT/ITeS SEZ development plan, Electronic Corporation of Tamil Nadu (Elcot) is setting up nine IT SEZs in Tamil Nadu, developing 1 million sq ft space at an estimated cost of Rs 28,000-30,000 crore (Rs 280-300 billion) - one each at Perumbakkam village and Sholinganallur near Chennai, two in Madurai, and one each at Tiruchirapalli (Trichy), Krishnagiri, Salem, Coimbatore and Tirunelveli.
Finance firms in these SEZs likely to get tax breaks.
The decision regarding this was taken by the Board of Approval in its meeting on September 18.
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