New Delhi: Mukesh Ambani-promoted Mumbai SEZ, a multi-product trade zone that is close to getting scrapped over its failure to acquire land for the project, has the option of approaching the board of approval to extend the deadline beyond Monday.
“As the in-principle approval of the project would lapse...they will have to approach the board of approval (headed by the commerce secretary) to seek time extension for completion of land acquisition,” a senior commerce ministry official said.
Land trouble: A village in Raigad that was to be a part of the SEZ. Hemant Padalkar / HT
When contacted, a spokesperson for Mumbai SEZ Ltd declined to comment.
The Supreme Court had on Friday rejected Mumbai SEZ Ltd’s plea of for staying the land acquisition process. The company, promoted jointly by Ambani and Anand Jain, had earlier approached the Bombay high court seeking a direction to the Raigad district administration to speed up land acquisition.
Mumbai SEZ Ltd, which was given in-principle approval in 2006, had to come up at an investment of about Rs40,000 crore. But it ran into problems after local farmers opposed the land acquisition exercise.