DLF to surrender 4 of its 9 IT/ITeS SEZs

17 April 2009

DLF Ltd, the country's largest real estate firm, today said it has approached the government for de-notifying four of its IT-ITeS special economic zones (SEZ).

In a clarification issued to the stock exchanges in Mumbai, the company said it "has requested the ministry of commerce and industry for de-notification of four IT/ITES SEZs."

DLF issued the clarification after the National Stock Exchange (NSE) sought information about its reported plans to surrender five SEZs due to cash crunch.

Newspaper reports quoting a senior commerce ministry official said DLF had made an application to the ministry for dropping five of its nine notified IT/ITeS special economic zones.

The applications will be considered after the elections, the reports added.

The NSE said it sought clarification from DLF on the media reports ''in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded."