Home India Ministry of Commerce and Industry WHEREAS M s Navi Mumbai SEZ Pvt Ltd had proposed under secti...
Date: 2019-03-01 Category: Extra Ordinary State: Union Government Country: India

WHEREAS M s Navi Mumbai SEZ Pvt Ltd had proposed under section 3 of the Special Economic Zones Act

Issued by Ministry of Commerce and Industry · Department of Commerce

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Executive Summary & Key Takeaways

Executive Summary: This notification from the Ministry of Commerce and Industry rescinds Notification S.O. 663E, dated March 12, 2009, which had previously notified an area of 10.77 hectares for a Special Economic Zone (SEZ) by Ms. Navi Mumbai SEZ Pvt. Ltd. The rescission was effective February 28, 2019, and was made following a proposal by Ms. Navi Mumbai SEZ Pvt. Ltd. to denotify the entire area, and with no objection from the Maharashtra government. Key Points / Main Content: * **Denotification of Special Economic Zone:** * The Central Government rescinds notification S.O. 663E, dated March 12, 2009, regarding the Special Economic Zone. * This involves denotifying the entire 10.77 hectares of the SEZ previously approved for Ms. Navi Mumbai SEZ Pvt. Ltd. * **Background and Approvals:** * Ms. Navi Mumbai SEZ Pvt. Ltd. initially proposed the SEZ under Section 3 of the Special Economic Zones Act, 2005. * The Maharashtra government provided a No Objection Certificate (dated February 20, 2019) for the denotification proposal. * The Development Commissioner, SEEPZ-SEZ, recommended the denotification of the area. * **Legal Basis:** * The rescission is enacted under the powers conferred by the first proviso to rule 8 of the Special Economic Zones Rules 2006. * The rescission does not apply to actions already completed or omitted before the rescission date. Impact Analysis: Central Government: * Impact: Exercises its power to rescind the notification related to the Navi Mumbai SEZ. * Action Required: Update records and ensure compliance with the rescission, except for actions already taken or omitted. Ms. Navi Mumbai SEZ Pvt. Ltd.: * Impact: The approved SEZ area of 10.77 hectares is now denotified. * Action Required: Adjust business plans and operations to reflect the denotification of the SEZ, and comply with any further directives from the government. State Government of Maharashtra: * Impact: The denotification impacts the economic zone planning within the state. * Action Required: Update land records and regional development plans to reflect the change. Development Commissioner, SEEPZ-SEZ: * Impact: The recommendation for denotification has been acted upon. * Action Required: Update records and monitor the area's future development in accordance with the denotification.

Key Entities Referenced

Special Economic Zones Act, 2005: Indian legislation governing the establishment, development, and management of Special Economic Zones in India. Special Economic Zone Rules 2006: Rules framed under the Special Economic Zones Act, 2005, providing detailed procedures and guidelines for the operation of SEZs. Ministry of Commerce and Industry: The Indian government ministry responsible for the formulation and implementation of policies related to commerce, industry, and trade. Navi Mumbai SEZ Pvt. Ltd.: A private limited company that proposed to set up a sector-specific Special Economic Zone and later proposed to denotify the entire area. Maharashtra: A state in India where the proposed Special Economic Zone was located. Navi Mumbai: A city in Maharashtra, India, where the proposed Special Economic Zone was located, specifically in Village Ulwe. SEEPZSEZ Special Economic Zone: An existing Special Economic Zone, whose Development Commissioner recommended the proposal for denotification of the area of Navi Mumbai SEZ. B. B. Swain: Additional Secretary, Ministry of Commerce and Industry, who signed the notification.
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