Professionals
0 Points
Joined April 2008
Dear Sir,
While filing a form FC-GPR, a question has come up on SSI. My friend who is NRI and intends to invest 50% in existing jewellery unit in SEZ. The investment will be made by OCB.
Existing Unit CEO says that my friend can not invest more than 24 % as unit located in SEZ are recognised as SSI unit and therefore there is cap.
In my view this is wrong. They should write in FC-GPR that they are not as such as SSI as unit in SEZ is governed by SEZ policies and not as per industrial policy in general which are applicable for non-sez unit.
Please clarify
Regards,
Pankaj