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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New Guidelines for Reviving or Exiting Sick Export Oriented Units: NFE Extension, Asset Transfer, and Liability Management</h1> The guidelines provide a framework for reviving or exiting Export Oriented Units (EOUs) that are declared 'sick.' For revival, a unit must submit a package for approval, potentially extending the Net Foreign Exchange (NFE) fulfillment period by up to five years and allowing the carry-forward of unused materials. For transferring a sick unit, interested entities can apply to take over assets and liabilities, with the Board of Approval's consent. Upon exiting, units must settle rental dues unless taken over by another, which assumes the liability. Adjudication under the FTDR Act is paused during revival or takeover.
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