Applicability of Internal Finance Control (IFC)

[Velayutham Panchatcharam]

It is urgent query. Does IFC applicable to Private Limited Company which is SEZ Developers?

[DR.MARIAPPAN GOVINDARAJAN]

In my view it is not required.

[KASTURI SETHI]

As per revised format of TMI this query has become outdated, it being more than six month old. Otherwise also it is no more urgent now. The reply was required urgently by the querist.

[Ganeshan Kalyani]

Yes sir the time limit has been set now. Thanks.

AI Summary

Internal finance control applicability to private SEZ developers remains contested; practitioner views diverge on requirement and timing. Applicability of Internal Finance Control to a private limited company acting as an SEZ developer is questioned; respondents offered conflicting practitioner views: one that IFC is not required, another noting the query is outdated and no longer urgent, and a third noting that a time limit for compliance or determination has since been set.