Net foreign exchange earnings requirement for SEZ units clarified; IFSC investment and specified insurance inflows excluded from calculation. SEZ units must achieve positive Net Foreign Exchange Earnings calculated cumulatively over a five year period from commencement of production. Exempted from that calculation are inflows, investments, returns and payments to investors linked to Alternate Investment Fund or Mutual Fund units in an International Financial Service Centre, and premium income retained for specified management expenses, related investments and returns, and insurance or reinsurance claim payments by IFSC insurance offices.
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.
Net foreign exchange earnings requirement for SEZ units clarified; IFSC investment and specified insurance inflows excluded from calculation.
SEZ units must achieve positive Net Foreign Exchange Earnings calculated cumulatively over a five year period from commencement of production. Exempted from that calculation are inflows, investments, returns and payments to investors linked to Alternate Investment Fund or Mutual Fund units in an International Financial Service Centre, and premium income retained for specified management expenses, related investments and returns, and insurance or reinsurance claim payments by IFSC insurance offices.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.