Non-automatic approval.

Non-automatic approval.

7.  (1) All applications not eligible for automatic approval under paragraph 6 shall require the approval of the Empowered Committee, constituted by the Central Government and all such applications shall be placed before the Empowered Committee within fifteen days of receipt of applications.

(2) The Empowered Committee shall consist of the following, namely :—

Provided that the Empowered Committee may co-opt other Secretaries to the Government of India and officials of financial institutions, banks and professional experts from Industry and Commerce as co-opted members of the Committee and such co-opted members, however, shall not have any voting right.

(3) The Empowered Committee shall consider each application on a case to case basis, subject to its complying with the statutory requirements as prescribed by the Ministry of Finance under the Income-tax Act, 1961, and other applicable statutory rules/obligations. The Committee will consider each case on its merits and grant approval subject to such other conditions as may be deemed fit by it. However, in all cases of rejection of proposals, the applicants shall be afforded an opportunity of being heard by the Committee and the orders shall be passed and communicated within twelve weeks. The Committee may also periodically review implementation of the approved proposals.

(4) The Empowered Committee will hold meetings whenever necessary. All Industrial Model Town/Industrial Park/Growth Centre proposals received shall be placed before the Committee within 15 days of receipt. The Committee, as far as possible, would ensure that the Government decision on each proposal is communicated to the applicant within six weeks. The Committee will adopt its own mode and working procedure, keeping in view the requirement of each proposal.