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of <h1>Units Can Exit SEZs With Approval Under Rule 74; Penalties Possible for Negative Net Foreign Exchange</h1> Under Rule 74 of the SEZ rules, units can exit a Special Economic Zone (SEZ) with Development Commissioner's approval, subject to duties on capital goods and materials. If a unit has not achieved positive Net Foreign Exchange, penalties may apply under the Foreign Trade Act, 1992. Units must execute a legal undertaking in Form L. Rule 11B allows demarcation of non-processing areas in IT/ITES SEZs. Gems and jewellery units ceasing operations must hand over materials to a government-nominated agency. The Development Commissioner may allow exit under the Export Promotion Capital Goods Scheme if eligibility criteria are met.
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