Bond-cum-Legal Undertaking monitoring required; developers and units must top up shortfalls; longer-term bonds permitted to cover projected requirements. SEZ developers and units must monitor their Bond-cum-Legal Undertaking quarterly or annually using their progress or performance reports and furnish additional bond amounts for any shortfall. Units must cover duty liability for three months, developers must cover projected requirements, and either may elect to furnish a longer-term Bond-cum-Legal Undertaking (e.g., one or five years) to reduce monitoring frequency.
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Provisions expressly mentioned in the judgment/order text.
Bond-cum-Legal Undertaking monitoring required; developers and units must top up shortfalls; longer-term bonds permitted to cover projected requirements.
SEZ developers and units must monitor their Bond-cum-Legal Undertaking quarterly or annually using their progress or performance reports and furnish additional bond amounts for any shortfall. Units must cover duty liability for three months, developers must cover projected requirements, and either may elect to furnish a longer-term Bond-cum-Legal Undertaking (e.g., one or five years) to reduce monitoring frequency.
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