DLF allowed to withdraw from 4 SEZs
02 Jun 2009
The government has given in-principle approval to realty major DLF Ltd to pull out of the four proposed IT, ITES special economic zones in Gujarat, West Bengal, Orissa and Haryana.
The Board of Approval (BoA) under the commerce ministry directed DLF to return all tax sops it had availed from the government ahead of de-notification of the SEZs. The department of revenue, the customs and the development commissioners have been entrusted with the job of collecting the refund of tax concession from DLF.
''DLF will be giving back all the duties and the department of revenue, customs (authorities) and development commissioners would ensure that the duties have been refunded,'' the official said.
Special economic zones (SEZs), which were in great demand till early last year, fill out of favour with some developers amidst the downturn in the global economy and is now in the process of surrendering their SEZs.
Mumbai-based K Raheja Universal also sought to denotify its SEZs. The Suresh Raheja-controlled Raheja Universal had requested the BoA to denotify its 50-acre IT/ITES SEZ and partially denotify a 30 acre SEZ, both in Navi Mumbai.