Ansal SEZ Projects has sought denotification of its SEZ in Gurgaon, Haryana, citing uncertain global economic conditions.
Other than economic meltdown, the company has cited reasons such as lack of demand and imposition of minimum alternate tax (MAT) and dividend distribution tax (DDT). The request for denotification of the SEZ will be placed before the Board of Approval (BoA), which is scheduled to meet on 6 July 2012.
Apart form Ansal, the BoA will also consider the requests of developers like Uttam Galva Steels, Mumbai SEZ and Mahindra & Mahindra which have sought more time to execute their projects.