Advertisement

HindustanTimes Thu,02 Oct 2014

Govt denotifies Adani SEZ for violating rules, firm to re-apply

HT Correspondent, Hindustan Times  New Delhi, October 16, 2012
First Published: 16:38 IST(16/10/2012) | Last Updated: 21:39 IST(16/10/2012)

The government has cancelled the Adani Group’s 1,840-hectare special economic zone (SEZ) in Mundra, Gujarat on grounds that it had violated norms and rules.

Advertisement

A government official said the Adani Ports and Special Economic Zone violated rules on contiguity of land, and also a rule that an SEZ site needs to be vacant before an approval can be sought to set up a duty-free enclave.

Ahmedabad-based Adani group led by billionaire Gautam Adani is operating India’s largest private port in Mundra, Kutch and is developing a multi-product SEZ on the Mundra coast.

Sources said the company can however approach the Board of Approval, the nodal authority for SEZs in India, with a fresh application after fulfilling the norms.

“The company has over 6,473 hectares of land notified as multi product SEZ, which has no relation with the aforesaid 1,840 hectares multi-product SEZ,”  the company said in a statement. “We had sought clearance for this additional land ... for expansion in future. The clearance was turned down as the authorities felt that the proposed area lacked contiguity. We will seek clearance for this additional 1,840 hectares in due course.”


Advertisement
more from Business

Mallya has to clear loan defaults to serve as USL chairman: Diageo

Loan default cases against Vijay Mallya and his UB Group may cast a shadow over his continuation as chairman of United Spirits Ltd in the future, with its current parent, UK-based Diageo, making it clear in a statement from its headquarters in London.

markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved