2021 (9) TMI 151

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....hor Kunal, Mr. Manish Rastogi And Mr. Sumit Khadari, Advocates Respondents: Mr. Chetan Sharma, Mr. Anil Soni, CGSC with Mr. Amit Gupta, Mr. Akshay, Gadeock, Mr. Vinay Yada & Mr. R.V. Prabhat, Advocates for UOI And Mr. Abhishek Khanna, Advocate ORDER 1. This petition has been preferred challenging Rules 53 and 80 of the Special Economic Zone Rules, 2006 (hereinafter referred to as 'SEZ Rul....

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....1(2) of FTDR Act. Learned Senior Counsel further submits that a penalty of Rs. 10,07,42,260/- has been imposed vide the impugned order dated 22.07.2020, which has also been challenged in the present petition along with the impugned letter dated 26.06.2020. 6. Learned Senior counsel submits that in the interregnum, the Petitioner has applied for exit from the SEZ and has requested the Respondent....

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....hetan Sharma, Learned Additional Solicitor General appearing on behalf of the Respondents submits that the Bank Guarantee furnished by the Petitioner is valid upto 07.09.2021 and the Petitioner should keep the same alive at least for a period of two years in order to enable the Respondents to process the application. Learned Additional Solicitor General further submits that under the provisions of....

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....years from 07.09.2021. An affidavit of undertaking to this effect shall be filed by the Petitioner within a period of 15 days from today enclosing therewith a photocopy of the extended Bank Guarantee valid upto 06.09.2023. 10. Subject to the Petitioner extending the Bank Guarantee as aforesaid and filing an affidavit of undertaking, within the time granted by this Court, Respondents shall proce....