SEZ developers get easier compliance norms

special economic zones (SEZs)
The Union government has relaxed the compliance norms for developers and co-developers of special economic zones (SEZs) due to the countrywide lockdown. The easier compliances include the requirement to file quarterly progress report attested by independent chartered engineers by developers and co-developers, SOFTEX form to be filed by IT/ITES units, filing of annual performance reports by SEZ units, and extension of letters of approval (LoAs) which may expire. Development commissioners of SEZs have been directed to ensure that no hardship is caused to developers and no punitive action is taken in cases where any compliance is not met during this period impacted by the above disruption, commerce & industry ministry said in a statement, elaborating that as per the relaxation, all extensions of LoAs and other compliances may be facilitated through electronic mode in a time-bound manner. In cases where it is not possible to grant extension through electronic mode or in cases where a physical meeting is required, development commissioners have been asked to ensure that no one faces any hardship due to such expiry of validity during this period of disruption. Ad-hoc interim extension and deferment of the expiry date may be granted without prejudice till June-end, the statement added.

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