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, issued by the Ministry of Commerce and Industry, Department of Commerce, rescinds Notification Number S.O. 1237E dated 27th May, 2008, which had previously notified an area of 21.13 hectares for a sector-specific Special Economic Zone (SEZ) for IT/ITES in Navi Mumbai. The rescission is made following a proposal from Ms. Navi Mumbai SEZ Pvt. Ltd. to denotify the entire area, with no objections from the Maharashtra State Government. The rescission excludes actions already taken or omitted before this notification. Key Points / Main Content: * **Denotification of SEZ Area:** * Ms. Navi Mumbai SEZ Pvt. Ltd. proposed to denotify the entire 21.13 hectares of the Special Economic Zone. * The Central Government has rescinded the original notification for the SEZ area. * **Government Approvals and Recommendations:** * The State Government of Maharashtra provided a No Objection Certificate to the denotification proposal on February 20, 2019. * The Development Commissioner, SEEPZ-SEZ, recommended the denotification of the entire area. * **Legal Basis:** * The rescission is made under the powers conferred by the first proviso to rule 8 of the Special Economic Zones Rules 2006. * The original proposal was made under Section 3 of the Special Economic Zones Act, 2005. * **Exclusions:** * The rescission does not apply to actions already completed or omitted before the date of the notification (February 28, 2019). Impact Analysis: * **Ms. Navi Mumbai SEZ Pvt. Ltd.** * *Impact:* The company's proposal to denotify the SEZ area has been approved, and the original notification has been rescinded. * *Action Required:* Ensure compliance with the terms of the rescission, particularly regarding actions already taken or omitted. * **Central Government** * *Impact:* Implements the rescission of the SEZ notification. * *Action Required:* Ensure proper record-keeping and communication of the rescission. * **State Government of Maharashtra** * *Impact:* The state government's no-objection to the proposal was a factor in the rescission. * *Action Required:* Monitor the implications of the denotification on the region's economic development. * **Development Commissioner, SEEPZ-SEZ** * *Impact:* Their recommendation was considered in the denotification process. * *Action Required:* Update records to reflect the change in SEZ status.

Key Entities Referenced

Ministry of Commerce and Industry: The Indian government ministry responsible for international trade and industry. Navi Mumbai SEZ Pvt. Ltd.: A private company that proposed setting up a sector-specific Special Economic Zone and later proposed to denotify the entire area. Special Economic Zones Act, 2005: An Indian law providing the legal framework for establishing and operating Special Economic Zones. Village Ulwe, Navi Mumbai, Maharashtra: The location where the Special Economic Zone was initially proposed to be set up. Special Economic Zone Rules 2006: The rules established by the Indian government related to the Special Economic Zones Act, 2005. SEEPZ-SEZ Special Economic Zone: The Development Commissioner who recommended the proposal for denotification of the Special Economic Zone. 21.13 hectares: The area initially notified for the Special Economic Zone. B.B. Swain: Additional Secretary, Ministry of Commerce and Industry.
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