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Ansal To Surrender Its Gurgaon SEZ

Due to the implementation of minimum alternate tax and economic problems, the Ansal SEZ Projects have decided to surrender to the government its special economic zone in Gurgaon. This request of the SEZ project will be handed to the Board of Approval (BoA) and is schedule for thorough discussion on July 6.

Ansal Housing Logo

Ansal Housing

Some developers of the project also requested for an increase in the time frame of the project. They might have found out that the project they are getting into is bigger than what they have expected.

This may not be a good news for the government, but at least the company is honest enough to admit its short comings and is willing to surrender their right for the certain project. This will give more time for the government to be able to look for other options especially when their plea to surrender that project would be approved by the Board of Approval.

 

 

Source:http://articles.economictimes.indiatimes.com/2012-06-13/news/32215427_1_denotification-boa-agenda-approval


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