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Maytas allowed to withdraw SEZ

Maytas allowed to withdraw SEZ
PTI
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First Published: Tue, Aug 11 2009. 03 30 PM IST
Updated: Tue, Aug 11 2009. 03 30 PM IST
New Delhi: The government on Tuesday allowed Maytas Ventures, promoted by the kin of disgraced B. Ramalinga Raju, to surrender its biotech SEZ and approved three new proposals, including that of Brooke Bond Real Estates IT/ITES tax-free enclave in Karnataka.
The Board of Approval (BoA) headed by commerce secretary Rahul Khullar permitted the Hyderabad-based Maytas Ventures to withdraw its SEZ provided the company refunds the Rs31 lakh service tax exemption.
The board deferred a decision on a request from Mukesh Ambani-promoted Reliance Haryana SEZ seeking more time to complete the multi-product zone at Gurgaon, an official said.
The developers have already been given extension twice.
Briefing reporters after the meeting, Khullar said the issue of decentralisation of BoA’s power would be taken up by a group of senior officials.
The BoA deferred the requests of Larsen & Toubro, Cochin International Airport Ltd and Deccan Infrastructure & Land Holdings Ltd for setting up SEZs.
Sanvo Resorts which had approached the BoA to surrender its IT\ITES SEZ in Maharashtra withdrew its request of de-notification.
Meanwhile, exports from the SEZs in the first quarter of 2009-10 were valued at Rs34,000 crore, Khullar said.
Exports from SEZs grew by 36% to Rs90,416 crore in 2008-09.
So far, 576 formal approvals have been given for setting up SEZs, of which 319 have been notified.
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First Published: Tue, Aug 11 2009. 03 30 PM IST