The board of approvals (BoA) on Special Economic Zones on Friday cleared seven co-developers in the Mukesh Ambani-promoted Navi Mumbai SEZ. After the meeting, commerce secretary G.K. Pillai said that BoA gave a green signal to the Navi Mumbai SEZ proposal subject to their producing data on net assets of the co-developers.
The Navi Mumbai SEZ will have to furnish all the financial data to the government by the month-end, he said. The intricately structured SEZ was first divided into four zones — one multi-product and three for IT and ITES. Later, the promoters inducted seven co-developers with Jai Corp being the holding firm for these partners. The board of approvals on Friday also recommended grant to 10 formal and three in-principle approvals.
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