TMI BlogLetter of Approval to a UnitX X X X Extracts X X X X X X X X Extracts X X X X ..... roducts and rejects and other terms and conditions, if any, stipulated by the Board or Approval Committee: 3 [Provided that the Approval Committee may also approve proposals for broad-banding, diversification, enhancement of capacity of production, change in the items of manufacture or service activity, if it meets the requirements of rule 18: Provided further that no such approval shall be granted by the Approval Committee in those cases which fall within the competence of the Board of Approval: 4 [Provided also that, subject to the provisions of rule 74A] the Approval Committee may also approve change of the entrepreneur of an approved unit, if the incoming entrepreneur undertakes to take over the assets and liabilities of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g two years: Provided further that the Development Commissioner may grant further extension of one year subject to the condition that two-thirds of activities including construction, relating to the setting up of the Unit is complete and a chartered engineer's certificate to this effect is submitted by the entrepreneur. 5 [Provided also that the Board of approval may, upon a request in writing by the entrepreneur, and after being satisfied that it is necessary and expedient so to do grant further extension for a further period not exceeding one year, at a time.] (5) If the Unit has not commenced production or service activity within the validity period or the extended validity period under sub-rule (4), the Letter of Appro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Development Commissioner may renew the Letter of Approval for a period of five years or for a shorter period, in form F 2, based on the evaluation of the Unit as per sub-rule (6B): 11 [ (6B) The process of renewal of Letter of Approval shall take into account the efforts made and the results achieved or status of the following criteria, namely:- (i) Export performance of the Unit in the last block. (ii) Employment generated. (iii) Instance of violation of applicable statutes related to the functioning of the Unit. (iv) Cases of default, if any, of statutory payments. (v) Undertaking of any activity not sanctioned or approved by the Development Commissioner. (vi) The decision of the Development Commissioner or Appr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xchange Management (Foreign exchange derivatives contracts) Regulations, 2000.] 3. Substituted vide notification no. S.O. 1293 (E) dated 20-5-2009 , earlier it was read as: 1 [Provided that no such approval shall be granted by the Approval Committee in those cases which fall within the competence of the Board of Approval;] Provided further that the Approval Committee may also approve change of the entrepreneur of an approved unit, if the incoming entrepreneur undertakes to take over the assets and liabilities of the existing Unit 4. Substituted vide Notification No. C.2/1/2013-SEZ-SEZ dated 12/08/2013 before it was read as provided also that . 5 . Inserted vide G.S.R. 903(E) - Dated 10-11-2010 6 . Inser ..... X X X X Extracts X X X X X X X X Extracts X X X X
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