Jurisdictional validity: notice issued by a non jurisdictional officer invalidates reassessment where no formal transfer or independent verification o...
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In cases of an IFSC unit reorganization, including change of name, shareholding pattern, business transfer arrangements, court-approved mergers or demergers, change of constitution, or change of directors, the instrument prescribes that requisite regulatory compliance under the IFSC Act, 2019 must be completed and the reorganization must be intimated by IFSCA (as Administrator) to the Unit Approval Committee of the concerned SEZ. This ensures the SEZ Unit Approval Committee receives formal intimation for taking any action or recording changes as required under the SEZ Act and SEZ Rules.
In cases of an IFSC unit reorganization, including change of name, shareholding pattern, business transfer arrangements, court-approved mergers or demergers, change of constitution, or change of directors, the instrument prescribes that requisite regulatory compliance under the IFSC Act, 2019 must be completed and the reorganization must be intimated by IFSCA (as Administrator) to the Unit Approval Committee of the concerned SEZ. This ensures the SEZ Unit Approval Committee receives formal intimation for taking any action or recording changes as required under the SEZ Act and SEZ Rules.
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