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Date: 09-Aug-2024 Category: Extra Ordinary State: Union Government Country: India

Notification for the change of name of the Developer from GIFT SEZ Limited to Gujarat International Finance TecCity Company Limited

Issued by Ministry of Commerce and Industry · Department of Commerce

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Executive Summary & Key Takeaways

What it means

  • This gazette notification from the Ministry of Commerce and Industry (Department of Commerce, SEZ Section) amends previous notifications regarding the developer of the Gujarat International Finance Tec-City (GIFT) Special Economic Zone (SEZ).

Key Changes

  • The notification changes the name of the developer of the GIFT SEZ. The name is amended from “M/s. GIFT SEZ Limited” to “M/s. Gujarat International Finance Tec-City Company Limited”.
  • This amendment is based on the powers conferred by the second proviso to sub-section (1) of Section 4 of the Special Economic Zones Act, 2005, and in pursuance of rule 8 of the Special Economic Zones Rules, 2006.
  • The amendment affects previous notifications numbered S.O. 1910(E) dated 18th August, 2011 and S.O. 2989(E) dated 06th July, 2023.

Impact Analysis

Impact on GIFT SEZ

  • However, all future documents and communications related to the GIFT SEZ should reflect the updated name of the developer.

Impact on Businesses Operating in GIFT SEZ

  • The impact on day-to-day operations is expected to be minimal, provided the change is properly communicated and implemented.

Impact on Investors

  • Transparency regarding this administrative change is crucial to maintain investor confidence.

Suggested Actions

  • The Ministry of Commerce and Industry should ensure the updated information is widely disseminated.

Key Entities Referenced

Ministry of Commerce and Industry (Department of Commerce, SEZ Section): The issuing authority of the notification. Responsible for overseeing Special Economic Zones in India. Special Economic Zones Act, 2005: The primary legislation governing Special Economic Zones in India. This act provides the legal basis for the notification. Special Economic Zones Rules, 2006: Rules framed under the Special Economic Zones Act, 2005, providing further details on the administration and operation of SEZs. M/s. Gujarat International Finance Tec-City Company Limited: The new official developer of the GIFT SEZ. M/s. GIFT SEZ Limited: The previous name of the GIFT SEZ developer. S.O. 1910(E) dated 18th August, 2011 and S.O. 2989(E) dated 06th July, 2023: Previous notifications amended by this gazette notification.
Official Source Record View Original Source →
See Full Document Text
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-10082024-256259 CG-DxLx-xEG-I1D0H0x8x2x0 24-256259 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 3081] नई दिल्ली, िुक्रवार, अगस्ट्त 9, 2024/श्रावण 18, 1946 No. 3081] NEW DELHI, FRIDAY, AUGUST 9, 2024/SHRAVANA 18, 1946 वाजणज्य एव ंउद्योग मत्रं ालय (वाजणज्य जवभाग) (एसईिडे अनभु ाग) अधिसचू ना नई दिल्ली, 9 अगस्ट् त, 2024 का.आ. 3235(अ).—जविेष आर्थिक िोन अजधजनयम, 2005 की धारा 4 की उप-धारा (1) द्वारा प्रित्त िजियों का प्रयोग करते हुए और जविेष आर्थिक िोन अजधजनयम, 2006 के जनयम 8 के अनुसरण म ें केन्द्र सरकार एतद्द्वारा वाजणज्य एवं उद्योग मंत्रालय की अजधसचू ना संख्याओं का.आ. 1910(अ) दिनांक 18 अगस्ट्त, 2011 एव ं का.आ. 2989 (अ) दिनांक 06 िुलाई, 2023 में जनम्नानुसार संिोधन करती ह,ै अथाित ्ः- उपरोि अजधसूचना में, जवकासकताि का नाम “मै. जगफ्ट एसईिेड जलजमटेड” के स्ट्थान पर “मै. गुिरात इंटरनेिनल फाइनेंस टेक-जसटी कंपनी जलजमटेड” पढ़ा िाए। [फा. सं. एफ.1/145/2007-एसईिेड] जवमल आनंि, संयिु सजचव 5052 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (SEZ Section) NOTIFICATION New Delhi, the 9th August, 2024 S.O. 3235(E).—In exercise of the powers conferred by the second proviso to sub-section (1) of Section 4 of the Special Economic Zones Act, 2005, and in pursuance of rule 8 of the Special Economic Zones Rules, 2006, the Central Government hereby makes the following amendment in the notification of Ministry of Commerce and Industry bearing numbers S.O. 1910(E) dated 18th August, 2011 and S.O. 2989(E) dated 06th July, 2023: - In the said notification, the name of the Developer shall be read as “M/s. Gujarat International Finance Tec- City Company Limited” instead of “M/s. GIFT SEZ Limited”. [F. No. F.1/145/2007-SEZ] VIMAL ANAND, Jt. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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