Countdown begins for non-starter units in Mihan-SEZ

  • | Wednesday | 20th September, 2023

Nagpur: The development commissioner (DC) for Mihan-SEZ has initiated the exit procedure for companies that have been non-starters in the zone. This began last year with issuing of notices to over 30 companies, whose letters of approval (LOA) had expired.LOA is like an licence to operate in a SEZ. In these cases, the LOA had expired as the operations had not begun within the stipulated time. Even the period of extension had passed.First cancellation notices were issued to these companies and the DC office waited for their response. Now, the final process of assessing the dues of such entities has begun. There are chances that some material may have been imported during construction or any other activity. The tax dues on it would be calculated. If there are no dues, the customs department would issue a no-objection certificate (NOC), and straightway the companys name would be struck off the SEZ, said sources involved in the process.The list would be handed over to Maharashtra Airport Development Company (MADC), the agency developing Mihan-SEZ, to delete the names. The MADC too has taken the matter seriously and is coordinating with the DC office, said sources.In case there are tax dues, attempts would be made to recover the amount, preferably before the company exits. Although the action can happen at a late sage also, said a source.The process of ascertaining the dues is expected to be finished by December. After that the cases would be taken up with SEZs unit approval committee (UAC) for issuing final exit orders, a source said.This is expected to free up land in the SEZ, which is now in the name of the non-starter companies. A number of these are co-developers, which have taken up huge land parcels but have not started any activity. A co-developer can develop a portion of the SEZ and let it out to other companies. One of co-developers which was allotted over 50 acre land could not be traced. There was no response to repeated communications by the DC office, said sources.We also published the following articles recentlyPublic toilet plan remains a non-starterAuthorities in Kochi, India have yet to start a public toilet project, despite approving it in July. The plan was to install toilets in 20 locations, but this was reduced to 10 in September. The private firm hired for the project has not made contact since the council meeting in September, possibly due to objections raised by opposition councillors. The lack of public toilets in the city has caused difficulties for residents and tourists alike.China touts economic gains for Taiwan in co-development plan with FujianChina has released details of its plan to develop coastal Fujian province as a zone for integrated development with Taiwan, emphasizing the benefits of increased cross-strait cooperation. The plan includes encouraging Taiwanese firms in Fujian to list on Chinese stock exchanges and supporting cross-strait capital cooperation. China will also enhance access for Taiwanese investors and improve transportation and infrastructure connectivity between Taiwan and Fujian. Shares of Fujian companies related to the development plan rose after the announcement.Karan Johar jokes that it would have been better if his name was Karan KashyapKaran Johar, the renowned Indian filmmaker, is promoting his upcoming film "Kill," which he co-produced with Guneet Monga. During the promotions, Johar expressed his desire to break the perception that his production banner, Dharma Productions, only produces certain types of films. He also praised Shah Rukh Khans film "Jawan" and gave special shoutouts to Deepika Padukone and Khan. "Kill," written and directed by Nikhil Nagesh Bhat, is a collaboration between Dharma Productions and Sikhya Entertainment.

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