Govt approves cancellation of 4 SEZ projects
The government has given go-ahead for the cancellation of projects to four special economic zones (SEZ) developers including those of Broadway Integrated Park and Veritas Infrastructure Development.
The decision regarding this was taken in a meeting of the Board of Approval (BoA) on August 12, which was chaired by Commerce Secretary Rita Teaotia. "The board examined the four cases of cancellation of formal approval/notification and approved the cancellation," the minutes of the BoA meeting said.
However, it said that the cancellation is subject to the development commissioner furnishing a certificate in the prescribed format certifying that the developer has not availed any tax/duty benefits including service tax exemptions, if any, under SEZ Act/rules or has refunded any such benefits availed by it.