High Court may decide fate of three Goa SEZs
The fate of the three notified special economic zones (SEZs) in Goa Cipla’s Meditab, Raheja’s IT/ITES project and Peninsula’s pharmaceutical unit is likely to be determined by the judiciary.
By Amiti Sen, |
NEW DELHI: The fate of the three notified special economic zones (SEZs) in Goa Cipla���s Meditab, Raheja���s IT/ITES project and Peninsula���s pharmaceutical unit is likely to be determined by the judiciary. Even after the lapse of five out of the six weeks granted by the Goa High Court to the Centre and the state government for resolving the matter, no solution to the problem of denotifying the SEZs seems to be on the anvil.
The HC is now likely to take a call on the matter after the Centre and the state submit their report on how they think the issue should be handled. Government sources tracking the development told ET Goa government may have to pay substantial compensation to developers of the notified SEZs if it decides to disallow them to operate in the state.
Developers of the 12 proposed SEZs, which had received formal approval, may also fight it out in the court. Sources said at least one developer of an approved SEZ has already approached the Goa High Court on the state government���s intention to scrap the project.
Meanwhile, the commerce department has issued show-cause notices to developers of the formally approved SEZs in Goa, asking them why the approval should not be withdrawn. Once the developers respond, the board of approval (BoA) for SEZs will decide on future action.
The Centre, however, has not yet been able to decide on the fate of the notified SEZs. While the BoA has not said outright a notified SEZ cannot be denotified, it has not taken any step toward proposing a denotification. In fact, the BoA meeting last week postponed a decision on the issue.
The Goa government seems determined to scrap all SEZs. Once both the state government and the Centre submit their report to the Goa High Court, the court will determine the final course of action.
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