The cancellation of projects to four special economic zones (SEZ) developers was taken in a meeting of the Board of Approval (BoA) chaired by Commerce Secretary Rita Teaotia. The government has given the go-ahead for the cancellation of projects to four special economic zones (SEZ) developers including those of Broadway Integrated Park and Veritas Infrastructure Development. “The board examined the four cases of cancellation of formal approval/notification and approved the cancellation,” the minutes of the BoA meeting said. Muttha Realty and Broadway Integrated Park had planned to set up an IT/ITeS zones, while Veritas Infrastructure Development and Saloni Business Park had proposed to set up biotechnology park SEZ. Exports from special economic zones (SEZs) logged a marginal growth of 0.77 per cent to Rs 4.67 lakh crore in 2015-16.

Source: The Hindu August 24, 2016 09:00 UTC