- Friday, June 4, 2010, 7:00
- Corporate Law
With more SEZs becoming operational, the Centre will consider on June 8 framing rules that would allow migration of units from one special economic zone to the other. As of now there is no specific provision for transfer of a unit from one SEZ to the other.
“The Board of Approval is scheduled to take up the matter in its next meeting scheduled for June 8,” a Commerce Ministry official said.
The issue assumes significance as several units have approached the Commerce Ministry seeking inter-SEZ transfers.
“With more SEZs becoming operational such requests may come up frequently, in view of business requirements, operational difficulties and cost consideration,” the official said.
Of the 580 approved SEZs, 105 are operational. The government last month had relaxed norms allowing employees of IT units in SEZs to carry out their duties even if they were at home or outside location.
SEZs, providing employment to about five lakh people, have attracted investments of more than Rs 1.2 lakh crore.