SEZ compliance undertaking: developers must secure customs benefits with detailed records and refunds if statutory conditions are breached. The bond secures developer compliance with the Special Economic Zones Act and Rules by binding obligors jointly and severally to refund benefits of exemptions, drawback, cess and concessions if conditions are breached, to maintain detailed accounts of goods, to submit prescribed quarterly and half-yearly returns, to ensure safe transit and proof of arrival of dispatched goods within the stipulated period, and to obtain permission for changes in business name or location; failure may attract withdrawal of permissions and recovery of sums by the Specified Officer.
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.
SEZ compliance undertaking: developers must secure customs benefits with detailed records and refunds if statutory conditions are breached.
The bond secures developer compliance with the Special Economic Zones Act and Rules by binding obligors jointly and severally to refund benefits of exemptions, drawback, cess and concessions if conditions are breached, to maintain detailed accounts of goods, to submit prescribed quarterly and half-yearly returns, to ensure safe transit and proof of arrival of dispatched goods within the stipulated period, and to obtain permission for changes in business name or location; failure may attract withdrawal of permissions and recovery of sums by the Specified Officer.
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