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Adani Ports SEZ gets show cause notice

BS Reporters/ 17 Jun 12 | 12:51 AM
 Adani Ports & Special Economic Zone Ltd
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The Ministry of Commerce and Industry has issued a show cause notice to Adani Ports and Special Economic Zone Ltd (APSEZ) as to why a formal approval and notification granted to it for its new 1,840-hectare SEZ should not be withdrawn immediately.

The Department of Commerce, in its notice dated June 12, maintained that several material facts were not brought to the notice of the department by the company in its proposal for setting up a multi-product SEZ at Mundra in Gujarat.

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"From the observations... it is prima facie apparent that APSEZ has deliberately concealed and falsified material facts, which have a direct bearing on the grant of approval and subsequent notification, as also misled the department by furnishing incorrect particulars of land and other related facts leading to wrongful approval...," the notice stated.

The ministry has sought a reply within 10 days, failing which, it would be presumed that the company has no explanation and the department shall proceed accordingly.

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