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of <h1>IFSC unit reorganization and business transfers need IFSC Act compliance; Administrator must notify SEZ committee for recognition</h1> For reorganization of an IFSC unit, including change of name, change of shareholding pattern, business transfer arrangements, court-approved mergers or demergers, change of constitution, or change of directors, the unit must ensure requisite regulatory compliance under the IFSC Act, 2019, and the Administrator (IFSCA) must duly intimate such reorganization to the concerned SEZ Unit Approval Committee for purposes required under the SEZ Act and the SEZ Rules, thereby enabling SEZ-side processing and recognition of the reorganization based on IFSCA's intimation.
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