Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Lupin gets more time from govt to complete project in Indore SEZ.


Date: 21-05-2019
Subject: Lupin gets more time from govt to complete project in Indore SEZ
The government has approved a proposal of drug firm Lupin to take more time for completion of its project at Indore special economic zone (SEZ) with proposed investment of Rs 205.69 crore. The decision to give more time was taken by the the Board of Approval (BoA) in its meeting on April 22 here. BoA is an inter-ministerial body, headed by the Commerce Secretary. It is the highest decision-making authority of SEZs. 

"The board, after deliberations, approved extension of the validity of the LoP (letter of permission) up to April 11, 2020," the minutes of the BoA meeting said. 

The company is setting up its pharma unit in Indore SEZ to manufacture pharmaceutical formulations metered dose inhalers and dry powder inhalers. 

It has requested for extension of letter of permission (LoP) beyond April 11, 2019, for one year up to April 11, 2020. 

It had received the LoP on April 12, 2016, extended twice till April 11 this year. 

The development commissioner (DC) of Indore SEZ had recommended the company's request to BoA as the unit has made expenditure of Rs 43.11 crore till March 28 and the construction activities are in full swing and, are expected to be completed by November 2019 

The unit has expressed its commitment to commence production before March 2020. 

The company has stated that the delay in apportionment of land resulted in delayed start of the project. 

As per the SEZ rules, DC is authorised to grant extension of validity of LoP beyond second year of expiry of the original validity. However, it is subject to a condition that two-thirds of the activities including construction relating to setting up of the unit is complete and a chartered engineer's certificate to this effect is submitted by the entrepreneur. 

If these conditions are not met, then the unit has to approach the BoA for seeking more time. 

Further, the Board of Approval has granted in-principle to a proposal of L&T MBDA Missile Systems Ltd for setting up of an SEZ unit in Aspen Infrastructure Ltd for assembling, integration, functional testing of missile sub systems and missile weapon systems. 

Similarly, a proposal of Tata Power Company, SEZ unit under Cochin SEZ, for grant of industrial licence for manufacture of defence aircraft for military applications. 

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 01-12-2022
Notification No. 101/2022 - Customs (N.T.)
Exchange rate Notification No. 101/2022-Cus (NT) dated 01.12.2022-reg

Date: 01-12-2022
Notification No. 40/2022-Central Excise
Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to reduce the Special Additional Excise Duty on production of Petroleum Crude.

Date: 01-12-2022
Notification No. 41/2022-Central Excise
Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022, to reduce the Special Additional Excise Duty on Diesel.

Date: 30-11-2022
Notification No. 100/2022-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 29-11-2022
No.98 /2022-Customs (N.T.)
Amendment of notification no. 47/2022–Customs (N.T.), dated the 31st May, 2022

Date: 29-11-2022
NOTIFICATION No. 99/2022-Customs (N.T.)
Amendment of notification number 48/2022-Customs (N.T.) dated the 31st May, 2022

Date: 25-11-2022
NOTIFICATION No. 61/2022-Customs
Seeks to amend certain specific FTA/PTA notifications.

Date: 23-11-2022
NOTIFICATIONNo. 23/2022 – Central Tax
Seeks to empower the Competition Commission of India to handle anti-profiteering cases under CGST Act, 2017 with effect from 01.12.2022.

Date: 23-11-2022
NOTIFICATION No. 24/2022 – Central Tax
Seeks to make fourth amendment (2022) to CGST Rules with effect from 01.12.2022.

Date: 18-11-2022
Notification No. 58/2022-Customs
Seeks to amend Notification No. 27/2011- Customs, dated the 1st March, 2011 in order to withdrawal export duty on iron ore & steel products.



Exim Guru Copyright © 1999-2022 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001