Govt cancels 9 SEZs, including Hindalco, Essar, Adani: PTI

Posted By: Religare
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The government of India has cancelled sanction of nine special economic zones, which includes big players such as Hindalco Industries, Essar and Adani, expressing concerns over progress of the projects, PTI reported.

As per PTI report, the decision was taken in the meeting of the Board of Approval (BoA) headed by Commerce Secretary Rajeev Kher on September 18.

"The Board noted that the progress made by the following developers/co-developers is not satisfactory. The Board, after deliberations, decided to cancel the formal approval/ notification/co-developer status, as the case may be, in 9 cases," PTI quoted Commerce Ministry as saying this.

The order further said the developers have to refund the duty benefits availed by them, PTI reported.

Story first published: Monday, September 29, 2014, 23:00 [IST]
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