Revival of sick EOU units: extension and transfer pathways allow continuation or orderly exit under scheme norms. Procedures allow a sick EOU to seek revival by submitting a revival package through the Development Commissioner to the Board of Approval, which may grant an extension for fulfilment of NFE and permit carrying forward unutilised raw material and imported/domestically procured capital goods at original value; the unit's LUT is to be revised on extension. Alternatively, the Board may approve takeover of all assets and liabilities or permit transfer of capital goods and raw materials to another EOU (treated as domestically sourced for NFE). Rental liabilities for exit are payable and adjudication proceedings under the FTDR Act remain in abeyance during revival/takeover consideration.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Revival of sick EOU units: extension and transfer pathways allow continuation or orderly exit under scheme norms.
Procedures allow a sick EOU to seek revival by submitting a revival package through the Development Commissioner to the Board of Approval, which may grant an extension for fulfilment of NFE and permit carrying forward unutilised raw material and imported/domestically procured capital goods at original value; the unit's LUT is to be revised on extension. Alternatively, the Board may approve takeover of all assets and liabilities or permit transfer of capital goods and raw materials to another EOU (treated as domestically sourced for NFE). Rental liabilities for exit are payable and adjudication proceedings under the FTDR Act remain in abeyance during revival/takeover consideration.
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