'FORM L
FORM OF LEGAL UNDERTAKING FOR EXIT OF THE UNIT FROM SPECIAL ECONOMIC ZONE SCHEME

(See rule 74(6))

M/s ________________________were granted Letter of Approval/Letter of Permission No. _____________________________ dated ________________ for setting up a Special Economic Zone Unit ______________________________ at _______________ for the manufacture and export of _____________________ subject inter-alia to the condition that they would achieve positive Net Foreign Exchange on cumulative basis as per provisions of Special Economic Zone Scheme.

The unit filed a legal undertaking as per rule 22 of Special Economic Zone Rules, 2006 in Form H of Special Economic Zone Scheme on _________________ with the President of India through the Development Commissioner, _____ Special Economic Zone for achieving the above mentioned commitments.
As against the above commitments, the unit's actual performance has been as under:-

The unit applied for exit from the Special Economic Zone Scheme which was subject inter-alia to the condition that penalty imposed by appropriate Authority under the Foreign Trade (Development & Regulations) Act, 1992 (22 of 1992) for non-fulfilment of the conditions of approvals would be paid.

In view of the approval for exit, I/We --' hereby undertake as under:

(i) That I/We _________________________________ shall pay whatever penalties are imposed by the Development Commissioner under Foreign Trade (Development & Regulations) Act, 1992 (22 of 1992) for non-fulfilment of the terms and conditions of Letter of Approval/Letter of Permission.

(ii) That I/We _________________________ shall pay tax/duty alongwith interest, if any, if found availed for the unit mentioned above, shall be paid to any statutory agency without any demur or protest within the time frame specified in this regard.

(iii) That I/We ____________________________ shall adhere to the mode of payment of penalties, if any, and time frame in which penalties are required to be paid to the Development Commissioner without any demur or protest.

(Full and expanded description of the unit with full address.)

IN WITNESS WHEROF the unit hereto has duly executed this agreement on ____________________this________________________ day of _________(Year) signed, sealed and delivered by the unit in the presence of:

1. Name _____________________________
Address ___________________________

2. Name __________________________________
Address ________________________________
_________________________________

Accepted by me on behalf of the President of India. Dy./Jt. Development Commissioner, _______ Special Economic Zone.'.

[F. No. K-43013(12)/1/2017-O/o-US(GS)-DOC]
BIDYUT BEHARI SWAIN, Addl. Secy.

Note :' The principal rules were published in the Gazette of India, Extraordinary Part-II, Section 3, Sub-section (i), vide number G.S.R. 54 (E), dated the 10th February, 2006 and last amended vide G.S.R. 585 (E), dated the 13th June, 2017.