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Indian govt denotifies Welspun's textile & apparel SEZ
04
Apr '13
The SEZ Board of Approval (BoA), Government of India, has approved the request of Welspun Anjar SEZ Limited for denotification of the sector specific SEZ for Textiles & Garments at Anjar, Gujarat, notified over an area of 109.59 hectares.
 
The BoA denotification approval, however, is subject to the DC furnishing a certificate in the prescribed format certifying inter alia that the developer has either not availed or has refunded all the tax/duty benefits availed under SEZ Act/Rules in respect of the area to be de-notified, there are either no units in the SEZ or the same have been debonded, the state govt has no objection to the de-notification proposal, etc.
 
Welspun had sought denotification of the textiles and garment specific SEZ, proposed to be set up at Anjar in Kutch district of western state of Gujarat, citing non-viability of the same.
 
The company had earlier announced that the units in the zone had been debonded and an amount equal to the tax exemption availed for setting up of the SEZ had been paid back to the Government.
 
Prior to Welspun, a textile and apparel SEZ of Pradip Overseas Limited, also planned to be set up in Gujarat, was denotified by the BoA.
 

Fibre2fashion News Desk - India


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