DLF asks government to denotify four SEZs

April 17th, 2009 - 4:03 pm ICT by IANS  

New Delhi, April 17 (IANS) Hit by severe cash crunch, realty major DLF has requested the central government to denotify four special economic zone (SEZ) projects that were allotted to it.
These four SEZs are IT and IT enabled Services (ITeS) projects, the company said in a statement Friday.

Currently, DLF has been allotted nine IT/ITeS SEZ projects in different parts of the country.

Earlier, there were reports that the company, unable to raise funds to develop the projects, had asked the government to denotify five projects.

The company initially rejected the reports, but the clarification came Friday after the National Stock Exchange sought information regarding this to safeguard the interests of investors.

“DLF has clarified to the BSE (Bombay Stock Exchange) that the company has requested the ministry of commerce and industry for de-notification of four IT/ITES SEZs,” the statement said.

However, the company has not clarified which SEZs it sought to denotify.

The DLF officials could not be reached for comments.

Earlier, Parsvnath had put on hold 12 IT/ITeS SEZ projects because of the financial crisis.

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